March 23, 2018 / 7:49 AM / 9 months ago

Turkey's Dogan Holding shares surge more than 17 percent

Dogan Media Center is pictured in Istanbul, Turkey March 22, 2018. REUTERS/Kemal Aslan

ISTANBUL (Reuters) - Turkey’s Dogan Holding shares jumped more than 17 percent on Friday, a day after the group announced that it would sell its media arm to an unlisted company that is seen as close to the government.

Dogan Holding trades at 1.21 lira per share, up 16.35 percent at 0745 GMT. Since news of the move first emerged, the shares have leapt almost 70 percent.

The Istanbul stock exchange suspended trading in the group’s listed units Hurriyet Gazetecilik (HURGZ.IS), Dogan Burda (DOBUR.IS) and Dogan Gazetecilik (DGZTE.IS) earlier on Friday.

Reporting by Ezgi Erkoyun; Editing by Daren Butler

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