Government plans 51% Turk Telecom stake sale

12 Nov 2003

Turkey’s Communications Minister has announced that the government will sell a 51% stake in fixed line monopoly operator Turk Telecom by May 2004 and plans to approve a strategy for the privatisation of the company by the end of this month. According to the Minister, 5% of the shares will go to employees of Turk Telecom and the state-run postal service PTT, and there will be no differentiation between local and foreign buyers.

Turkey