Turkey Financial News

Posted by meb at November 4th, 2008

While the tender process for the nation’s first nuclear power plant has not yet been finalized, the government has approved the start of a second plant

Having come under fire for mishandling the tender process for the nation’s first nuclear power plant, the Turkish government is already pushing the button for the go-ahead on a second station.

The only proposal to build the country’s first nuclear power plant in the Mediterranean coastal town of Akkuyu in Mersin, was submitted by a consortium formed by Russia’s Atomstroy export, Inter RAO and Turkey’s Park Teknik, a unit of Ciner Holding, last September.

Energy experts criticized the bid from the start, arguing the energy ministry had mismanaged the whole affair and Turkey would become even more dependent on Russia for energy. Several companies, including Turkey’s Sabancı Holding, requested a postponement of the tender and some said the timetable was insufficient to prepare a proposal, but the ministry pressed on. (more…)

Posted by meb at October 28th, 2008

The Competition Authority decided yesterday that a privatization tender of the national lottery, Milli Piyango (MP), could proceed and noted it will monitor the tender process further. The authority said there was no problem with the winning company constituting a monopoly in the Turkish lottery sector.

The Privatization Administration (ÖİB) recently notified the Competition Authority of the tender process, a necessary step before the Competition Authority can issue its final decision on how the tender process is to proceed. (more…)

Posted by meb at October 25th, 2008

Ankara Metropolitan Municipality has announced a tender for the sale of plots of land located near Gölbaşı district’s Koparan Street. The municipality has determined the estimated value of the land at YTL 30.1 million, while those attending the tender will have to submit YTL 903,000 to the municipality as a temporary security deposit.

The tender will take place Nov. 6 at 2.00 p.m. through a closed envelope method. Those wishing to attend the tender for the sale of the property are able to examine contract for the tender at the municipality’s Department of Real Estate and Expropriation during business hours. The letters of tender prepared to the specifications of the tender can be submitted to the head of the Editorial Office and Board of Decisions before noon on the date of the tender. (more…)

Posted by meb at October 24th, 2008

Just as the current global financial crisis hit investment banking heavily, UniCredit SpA, Italy’s biggest lender and co-owner of Turkey’s Yapı Kredi Bank with Koç Holding, sees Turkey as a safe haven for its investment banking operations.

“Turkey is a core market for us. We are fully committed to our presence here,” Edoardo Spezzotti, head of UniCredit Markets & Investment Banking Division, said at the third UniCredit Turkey Infrastructure Conference in Istanbul yesterday.

“We aim to be the largest investment bank in Turkey. We are looking forward to enhancing our operations here as well as increasing the number of staff. We are developing in market and investment banking in Turkey while some players of the market prioritize mergers with other banks or moving away from investment banking to adopt a global banking model. Some banks have been disappearing while some others lose their independence,” said Spezzotti. (more…)

Posted by meb at October 22nd, 2008

Turkey expects to complete a nuclear power station tender within one or two weeks after “some questions are asked” to the winning Russian firm, Energy Minister Hilmi Guler told reporters on Wednesday.

A consortium led by Russian state firm Atomstroyexport, together with Inter RAO and Turkish Park Teknik, was the only bid in a tender to build and operate the country’s first nuclear power plant.

The tender was assessed as disappointing by analysts given the fact that a number of foreign and local companies had previously expressed interest but did not submit bids, making the Russian consortium the sole bidder.
source: Hurriyet daily

Posted by meb at September 23rd, 2008

Turkcell, the country’s largest mobile-phone operator, is preparing for the launch of a tender for third generation, or 3G, mobile phone licenses in Turkey, according to Koray Öztürkler, Turkcell’s chief corporate affairs officer in charge of corporate communications and investor relations.

“3G is an important development and we hope the tender will take place this year. We are preparing for this. We are thinking of launching 3G services after the tender period, within months,” he told reporters in Istanbul yesterday.

Turkey held a 3G tender last year, however, Turkcell was the only bidder and the tender offer was cancelled. The cabinet decision to again launch a tender for 3G mobile phone licenses was published in the Official Gazette on Thursday of last week. However, no definite date for the tender has yet been set. According to the announcement, the minimum value of the ‘A License’ is 285 million euros, while the ‘B License’ has been valued at 250 million euros, and the price for the ‘C License’ is 214 million euros, and 178 million euros for the ‘D License.’ (more…)

Posted by meb at September 9th, 2008

Preparations for the privatization of Turkey’s national lottery, Milli Piyango, are nearly ready and the tender process is expected to be launched shortly, a senior government source said yesterday.

Another source close to the tender process confirmed the information.

A draft decree on the transfer of the Milli Piyango license has been completed and this will be published in the Official Gazette soon after the Supreme Privatization Board, or ÖYK, gives go-ahead for the tender, one of the sources told Reuters.

Milli Piyango posted sales of YTL 459.8 million ($306.65 million) and YTL 331.8 million net profit last year and its sale is expected to interest several foreign and local bidders. (more…)

Posted by meb at September 9th, 2008

The Turkish Electricity Generation Company (EUAS) will cancel a tender in which two companies bid for rights to construct and operate a coal-fired unit at one of Turkey’s biggest power plants, the Anatolian Agency reported citing the general manager of EUAS on Tuesday.

Park Elektrik and Akfen Insaat-Akfen Enerji entered bids in a tender in late June to build and operate the new coal-fired C unit at the power plant, while Akfen Insaat-Akfen Enerji was the sole bidder for the plant’s D unit. (more…)