Turkey seized 879 companies since failed coup, worth 40.3 bln lira: State fund

ISTANBUL-Reuters

Turkish authorities seized or appointed an administrator to a total of 879 companies worth 40.3 billion Turkish Liras ($11.3 billion) in assets in the eight months since the failed coup last July, the state fund that runs the firms said on May 24.

According to a quarterly report by Turkey’s Savings and Deposits Insurance Fund (TMSF), nearly 45,000 people were working in the seized companies. 

It added that a total of 147 media companies were shut down within the same period. 

Turkey has taken control of a bank, several media firms and other enterprises as part of a crackdown on companies it suspects of links to sympathizers of Fethullah Gülen, the U.S.-based Islamic preacher widely believed to have been behind the July 15 failed coup attempt.