TURKEY: TURK TELEKOM TO BE PRIVATIZED.(Brief Article)

IPR Strategic Business Information Database, May, 2003

The Turkish cabinet has fulfilled a promise to the IMF in approving plans to privatise Turkey's landline phone monopoly, Turk Telekom, although later than the original end of April deadline. According to Europe Media, several foreign telcos are interested in bidding for Turk Telekom, though the firm is unlikely to attract the E8.6 billion which it been valued at by the end of the nineties.

The privatization plan comes as part of an overall program designed by the IMF to help Turkey handle its E86 billion-debt burden. An independent valuation of Turk Telekom is to be completed by July though talks with interested are expected to begin within weeks. - (World IT report.com)