October 13, 2018 / 10:41 AM / 3 days ago

Turkey looks to transfer opposition Isbank stake to treasury - paper

ISTANBUL, Oct 13 (Reuters) - Turkish President Tayyip Erdogan’s AK Party is drawing up a draft law on transferring to the treasury the main opposition party’s shares in Isbank , Turkey’s largest listed lender, the pro-government Sabah newspaper said on Saturday.

Media reports on Thursday quoted Erdogan as saying that the treasury should take over the Republican People’s Party (CHP) stake in the bank, sending the bank’s shares lower.

Sabah’s website did not provide further details. Other pro-government media carried a similar report, which could not immediately be confirmed.

The CHP owns a 28 percent stake in Isbank, bequeathed to it by Mustafa Kemal Ataturk, founder of the Turkish Republic.

Erdogan told reporters on a flight back from Hungary that the treasury should take over the opposition party’s shares, the Hurriyet newspaper said on Thursday.

“Whatever the will of Mustafa Kemal Ataturk is here, let’s realise the transfer of this heritage to the treasury ... This is not a right of the CHP,” Erdogan was quoted as saying.

Erdogan had previously said authorities should look into members of the opposition who serve on the board of the bank. (Reporting by Daren Butler Editing by Clelia Oziel)

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