June 4, 2018 / 7:48 AM / a year ago

Shares of Turkey's Fenerbahce jump after Koc elected chairman

ANKARA, June 4 (Reuters) - Shares of Turkey’s Fenerbahce surged on Monday, after the club elected businessman Ali Koc as chairman for the next three years over the weekend.

The 51-year-old Koc, a member of Turkey’s wealthiest family which runs the conglomerate Koc Holding, won 16,092 out of the 20,736 valid votes on Sunday, ending previous chairman Aziz Yildirim’s two decade leadership.

On Monday, Fenerbahce’s shares rose up to 44.36 lira ($9.62)with the opening of markets and were later up 8.66 percent at 0747 GMT.

Fenerbahce, Turkey’s second most successful soccer club with 19 league titles, were runners-up in the Turkish Cup this year and will go into the next season’s Champions League playoff rounds. The club won Euroleague basketball tournament in 2017, but bowed to Real Madrid in this year’s final. ($1 = 4.6116 liras) (Reporting by Tuvan Gumrukcu Editing by Ezgi Erkoyun)

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