International consortia are lining up to bid for a contract to advise on the privatisation of Turk Telecom, say Istanbul financial circles. The sale of Turk Telecom, carved out from the giant posts, telephones and telegraphs (PTT) administration, is expected to contribute much of the $20,000 million targeted in privatisation proceeds in 1996.
The consortia have been formed from about 30 banks and other concerns which have expressed an interest in the contract, say the sources. Figuring prominently among them are:
Salomon Brothers, KPMG, and the capital markets operation of Banque Indosuez
JP Morgan with NM Rothschild
SG Warburg and Morgan Stanley
Goldmann Sachs.
Although the fundamental privatisation law was passed recently, a ruling is still awaited from the country's constitutional court later in December which will enable the preparation work to proceed (MEED 16:12:94, Cover Story).
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.