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Financials

Turkish Wealth Fund buys EBRD's 10% stake in Istanbul bourse

ISTANBUL, Dec 31 (Reuters) - The Turkish Wealth Fund said on Tuesday it had bought the European Bank for Reconstruction and Development’s (EBRD) 10% stake in Borsa Istanbul, raising its stake in the stock exchange to 90.6%.

Sources had told Reuters in October that the EBRD would sell its 10% stake in the exchange after a former Halkbank executive who was jailed in the United States was named as the bourse’s CEO.

Reporting by Daren Butler; Editing by Ezgi Erkoyun

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