October 11, 2018 / 7:10 AM / 2 months ago

Erdogan says treasury should take over main opposition's stake in lender Isbank -Hurriyet

ISTANBUL, Oct 11 (Reuters) - Turkey’s Treasury should take over the main opposition party’s shares in Isbank, the country’s largest listed lender, President Tayyip Erdogan was quoted as saying on Thursday, sending the bank’s shares down.

The Republican People’s Party (CHP) owns a 28 percent stake in Isbank , bequeathed to it by Mustafa Kemal Ataturk, founder of the Turkish Republic.

Erdogan told reporters on a flight back from Hungary that the treasury should take over the opposition party’s shares, the Hurriyet newspaper quoted him as saying.

“Whatever the will of Mustafa Kemal Ataturk is here, let’s realise the transfer of this heritage to the treasury. These are not a right of individuals. It is not a right of the CHP,” Erdogan was quoted as saying by Hurriyet.

Isbank’s shares were down 2.42 percent at Thursday’s open, following Erdogan’s comments.

Erdogan had previosuly said authorities should look into members of the opposition who serve on the board of the bank. (Reporting by Ali Kucukgocmen; Editing by David Dolan)

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