15-Feb-2011 11:22 AM

Turkey to sell further stake in Turkish Airlines

Turkey is reportedly preparing to sell a further stake in Turkish Airlines with the nation's privatisation agency expected to hear bids to advise on the sale on 15-Feb-2011 (Financial Times, 14-Feb-2011). The agency last month shortlisted bidders to include consortia led by Citigroup, Credit Agricole, Goldman Sachs, HSBC, UniCredit and UBS. Turkey holds a 49% stake in the carrier, valued at around USD1.62 billion based on the closing share price on 11-Feb-2011.