ISTANBUL, July 29 The Turkish lira was little
changed on Monday in low volume trade ahead of a central bank
quarterly inflation report due on Tuesday.
Shares in Turkcell rose after a court decision extended
shareholders' deadline in a stake dispute.
The lira slipped to 1.9245 from 1.9240 against
the dollar as investors expected the central bank to revise up
its year-end inflation forecast on Tuesday.
Istanbul-based Cukurova Group has been given an extension to
pay the $1.56 billion needed to recover its controlling stake in
Turkey's biggest mobile phone operator Turkcell.
The dispute has left Turkey's biggest mobile phone operator
unable to agree the composition of its board, pay dividends or
pursue a coherent growth strategy.
Shares in Turkcell rose 0.9 percent to 11.25 lira while the
main stock index rose 0.53 percent to 72,938.39 points.
The yield on Turkey's 10-year bond rose to
9.43 percent from 9.23 percent on Friday.
(Writing by Ece Toksabay)