Turkey extends pre-qualification deadline for lottery tender to May 27

ISTANBUL – Reuters

Turkey’s national lottery tender has been postponed until May 27. DHA Photo

Turkey’s Privatization Administration announced it has extended the deadline for pre-qualification applications in its national lottery tender to May 27.

The deadline had previously been set for April 25, and the privatization office did not give a reason for the delay.

Last week, Finance Minister Mehmet Şimşek said he did not expect any delay in the sale after 10 firms received tender documents.

The administration had postponed the tenders scheduled for February to April, as the funding and loaning environment became tougher after a drop in the Turkish Lira, as well as political stability concerns discouraged particularly Turkish investors, who are heavily dependent on external loans.

The final deadline to bid for the tender is now June 27, the board said on its website.

The country has been grappling with the sliding lira against the U.S. dollar since the Federal Reserve’s decision to cut its stimulus program.

The weakening currency hit the skids in the wake of a Dec. 17, 2013, corruption and bribery investigation that kindled a massive political crisis at state institutions, falling to a historic low of 2.3 liras to the dollar.