Oger prepared to pay 20% over asking price for TT

22 Feb 2010

According to a report by Reuters citing local daily Haber Turk, Dubai-based Oger Telecom has announced that it would be prepared to pay a 20% premium to ensure that it secures divested shares in fixed line incumbent Turk Telekom (TT) should the government choose to sell part of its stake this year. As reported by CommsUpdate on 7 January 2010, Communications Minister Binali Yildirim revealed that the government was considering a second public offering to sell part of its remaining 31.7% stake in the operator. Should it decide to go ahead with the sale, the state is expected to float a 15%-20% stake via the public offering. According to TeleGeography’s GlobalComms Database, Oger already holds a 55.8% stake in the operator, having paid USD6.55 billion for the stake in a 2005 privatisation.