Bloomberg News

Turkish Stocks: Denizbank, Turk Telekom Active in Istanbul

February 21, 2012

Feb. 21 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 0.3 percent to 61,252.83 at the 5:30 p.m. close in Istanbul, paring four days of gains.

The following stocks were active. Stock symbols are in parentheses.

Denizbank AS (DENIZ TI), Dexia SA’s unit in Turkey, advanced 1.6 percent to 13.05 liras, the highest level in almost two weeks. There is a “plan B” should a sale of the bank by Dexia fall through and it will increase profitability, chief executive Hakan Ates told reporters in Istanbul today. Qatar National Bank SAQ’s talks to acquire Denizbank are stalled over price and may collapse, people with knowledge of the process said on Feb. 18.

Turk Telekomunikasyon AS (TTKOM TI), the biggest phone company in Turkey and owned by Saudi Oger Ltd., climbed 0.3 percent to 7.44 liras. The company got a $500 million loan from China Development Bank over eight years to finance purchases, it said in a statement to the Istanbul Stock Exchange today.

--Editors: Mark Bentley

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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