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Turkish Wealth Fund buys EBRD’s 10 pct stake in Istanbul bourse

Published: Updated:

The Turkish Wealth Fund said on Tuesday it had bought the European Bank for Reconstruction and Development’s (EBRD) 10 percent stake in Borsa Istanbul, raising its stake in the stock exchange to 90.6 percent.

Sources had told Reuters in October that the EBRD would sell its 10 percent stake in the exchange after a former Halkbank executive who was jailed in the United States was named as the bourse’s CEO.