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Oger's creditor banks in talks about sale of its 55 pct Turk Telekom stake -sources
July 13, 2017 / 8:14 AM / 4 months ago

Oger's creditor banks in talks about sale of its 55 pct Turk Telekom stake -sources

ISTANBUL/ANKARA, July 13 (Reuters) - Some creditor banks of Dubai-based Oger Telecom are in talks to sell its 55 percent stake in Turkish fixed-line operator Turk Telekom, four sources familiar with the matter told Reuters.

The talks come as Oger, the top shareholder in the Turkish fixed-line operator and internet provider, has struggled to repay a $4.75 billion loan, and has missed interest payments.

Two overseas investors have expressed interest in the Turk Telekom stake, and the sale could be completed by end-September, said the sources, who declined to be identified. (Reporting by Ebru Tuncay and Orhan Coskun; Writing by David Dolan; Editing by Daren Butler)

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