THY, Erdemir and Telecom Shares to be Sold on NYSE

After meeting with investor and finance circles in Washington and then in New York, Unakitan spoke to Turkish journalists. He said they would soon present shares of THY and Erdemir to the market, "We plan to sell these shares on the New York Stock Exchange. There are some American firms that have made some offers. I consider this to be positive."

Unakitan said: ‘We can sell THY shares on the New York Stock Exchange. Although many firms from other countries have shares on the New York Stock Exchange, there is only Turkcell from here. It is not possible to give a certain date now s the stock exchange procedure takes time. I think, if it is decided, we can do it by the new year. We plan to market a maximum of 20 percent of THY shares on the stock exchange. There are certain strategies on the issue and we will follow them. It is the same for Erdemir and Telecom as well. If strategic investors prefer purchasing 51 percent of Telecom, the rest can be presented to the New York Stock Exchange.’

Meanwhile, some leading American finance institutions like Citigroup and Raymond James that met with the Finance Minister are reportedly particularly interested in Erdemir and Telecom.