October 30, 2019 / 10:27 AM / 22 days ago

EBRD to sell Turkey bourse stake after former Halkbank exec named CEO -sources

ANKARA, Oct 30 (Reuters) - The European Bank for Reconstruction and Development will sell its 10% stake in the Istanbul exchange after Turkey’s decision to name as the bourse’s CEO a former Halkbank executive who was jailed in the United States, according to two sources.

The EBRD has told Turkish authorities of its decision to sell as soon as possible, the two people familiar with the plans told Reuters on Wednesday.

Last week Reuters reported that EBRD opposed Ankara’s decision to name Hakan Atilla, the former Halkbank executive, as chief executive of Borsa Istanbul.

Reporting by Orhan Coskun; Writing by Jonathan Spicer Editing by Dominic Evans

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