December 17, 2012 / 10:50 AM / in 5 years

Turk Telekom 7 pct stake sale planned for February -sources

ISTANBUL, Dec 17 (Reuters) - Turkey will sell a stake of around 7 percent in fixed-line phone company Turk Telekom through a secondary public offering in February, sources close to the matter said on Monday.

Work on selling part of the state’s 32 percent stake intensified after the government successfully raised 4.5 billion lira ($2.5 billion) from selling part of state-controlled lender Halkbank last month, the sources said.

“The current projection is that the 6.68 percent stake will be sold through a public offering in the first quarter of 2013,” a source with knowledge of the issue said.

“A block sale is highly unlikely for a sale of this size.”

A second source said the sale would be in mid-February. (Reporting by Ozge Ozbilgin; Writing by Ece Toksabay; Editing by Nick Tattersall)

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