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Turkish Airlines closer to acquire LOT: report

23-Apr-2012 2:42 PM

Turkish Airlines has examined the financial condition of LOT ahead of a potential bid, with the carrier the sole prospective bidder for the stake, according to Rzeczpospolita reports. The carrier reportedly conducted due diligence of LOT in Mar-2012. Poland's Treasury Ministry, which oversees state assets, said the ministry has held some discussions with Turkish Airlines in recent months, as confirmed by spokeswoman Magdalena Kobos. The treasury will pick an adviser for the sale process in May-2012, she said.