Turkish wealth fund seeks EBRD’s 10 pct stake in Borsa Istanbul: Report

The European Bank of Reconstruction and Development (EBRD) wants to sell its stake in the Turkish stock exchange due to the aftermath of the Halkbank incident. (AFP)

Turkey’s sovereign wealth fund (TVF) wants to buy the European Bank for Reconstruction and Development’s (EBRD) 10 percent stake in the Istanbul stock exchange, broadcaster CNN Turk on Thursday reported TVF general manager Zafer Sonmez as saying.

It was not clear where Sonmez was speaking. The EBRD is to sell its 10 percent stake in Borsa Istanbul after a former Halkbank executive who was jailed in the United States was named as the bourse’s CEO, two people familiar with the plans said on Wednesday.

Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53