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Azerbaijan's SOCAR to sell stake in Turkey's Star media group
August 8, 2014 / 12:20 PM / 3 years ago

Azerbaijan's SOCAR to sell stake in Turkey's Star media group

ISTANBUL, Aug 8 (Reuters) - Azeri state energy company SOCAR is in talks with Turkish businessman Fettah Tamince to sell its 50 percent stake in Turkey’s Star media group, SOCAR Turkey told Reuters on Friday.

“We started talks with Fettah Tamince to sell our 50 percent stake in Star media group. If talks succeed, we will exit the media sector to focus on the biggest projects of our country,” said Kenan Yavuz, chief executive officer at SOCAR Turkey.

Star media group, which SOCAR jointly owned with businessman Ethem Sancak, consists of Star newspaper and a couple of television channels. Tamince and Sancak are both known as close to Prime Minister Tayyip Erdogan and his ruling AK Party. (Reporting by Evrim Ergin, Writing by Ece Toksabay, Editing by Humeyra Pamuk)

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