December 18, 2013 / 10:02 AM / in 4 years

Al Jazeera weighs bid for $1 bln Turkish pay-TV firm Digiturk - sources

DUBAI/ISTANBUL, Dec 18 (Reuters) - Television broadcaster Al Jazeera is considering a bid for a majority stake in Turkish digital pay-TV operator Digiturk, three banking sources aware of the plans said, in a move by the Qatar-backed broadcaster to further expand its footprint.

Al Jazeera, which operates under the patronage of the emir of Qatar and his family, has appointed Barclays Capital , the investment banking arm of the British lender, to help assist with the process, one of the sources said.

Al Jazeera was not available for comment, while Barclays declined to comment.

A formal bidding process for the business is expected to begin in early 2014 and several local and international parties may join the race for the asset, the sources said.

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