Government plans Turk Telekom IPO

The Turkish government is preparing to offload a 15%-20% stake in national fixed line operator Turk Telekom, with proposals for the privatisation already submitted to the Cabinet. Local press reports suggest a sale could take place via an initial public offer between January and May next year. The government has a 45% stake in Turk Telekom, with the remaining 55% having been acquired by Saudi Arabia’s Oger Telecom in November 2005.