Türk Telekom eyes buying seized Digiturk

ISTANBUL

Türk Telekom has submitted a non-binding offer to buy a 53 percent stake of digital pay-TV operator Digiturk, one of 12 companies of the Çukurova group that was recently seized by Turkey’s state-run Savings Deposit and Insurance Fund (TMSF), the company announced to the Public Disclosure Platform July 23.

The Çukurova group owns a 53 percent stake in Digiturk, the broadcaster of Turkey’s football league, while Providence Equity Partners holds 47 percent. TMSF took over in May the management of 12 companies of Çukurova in return for its debts piled over $450 million.

However, Digiturk’s biggest rival D-smart said in the early July that it eyed acquiring Digiturk. There are other local and foreign companies interested in Digiturk, sources told Reuters.