Turkish Airlines privatization not on the agenda, authority says

ISTANBUL / ANKARA

Claims that the sale of 49 percent of Turkish Airlines shares would be finalized this month were not confirmed by the Privatization Authority in a written statement Sept.11. Hürriyet photo

Claims that the sale of 49 percent of Turkish Airlines shares would be finalized this month were not confirmed by the Privatization Authority in a written statement Sept.11.

“No such operation to privatize shares of the company has been initiated. Such claims should not be considered true, until the Privatization Authority announces it to be the case,” the statement said, contradicted a story on the issue published on website Mergermarket.com.

The website had also claimed that a contract between the Privatization Authority and McKinsey Consulting to use the consulting services of the latter in the privatization process of a 49.12 percent share of Turkish Airlines was cancelled. The Privatization Authority declined to comment on claims that it would be establishing its own consulting team in the process.

The remaining 50.88 percent of the company has been offered to the public.

The Privatization Authority announced that a contract between the Privatization Authority and McKinsey Consulting was to be inked in a July 12 statement to the Turkish national stock exchange, Borsa Istanbul. Following the statement, claims regarding the imminent sale of Turkish Airlines surfaced, but the Privatization Authority said no such operation was underway.