Türkiye’s sovereign wealth fund was reportedly mulling the sale of its 26.2% shares in state-owned operator Turkcell.
Sources speaking to Bloomberg said the Turkiye Wealth Fund has not made a decision, but have had informal talks with potential buyers. Some in the fund oppose the deal as they see Turkcell as a strategic asset. A final decision will apparently be made by Turkiye President Recep Tayyip Erdogan, who also leads the board of the fund.
The shares stirred interest from investors in the Arabian Peninsula and Azerbaijan. An investment bank has been approached for advising on a potential sale.
Another prominent shareholder of Turkcell is LetterOne Investment Holdings which has a 19.8% stake, and the rest of the shares ate traded on the Istanbul bourse and the New York Stock Exchange.
