Bloomberg News

Turkish Stocks: Carrefour Sabanci, Sabanci, Tesco Kipa, TSKB

February 28, 2012

Turkey’s benchmark ISE National 100 Index rose 2 percent to 59,978.49 at the close in Istanbul after a 1.5 percent fall yesterday.

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

CarrefourSA Carrefour Sabanci Ticaret Merkezi AS (CARFA) , the grocery store chain owned by France’s Carrefour SA (CA) and Haci Omer Sabanci Holding AS (SAHOL), surged 9 percent to 16.55 liras, its highest in almost seven months, after Vatan newspaper reported U.K.-based retailer Tesco Plc. (TSCO) was interested in buying the company. No decision has yet been made regarding Sabanci’s shares in CarrefourSA and the company continues to study strategic options, according to a statement made by Sabanci to the Istanbul Stock Exchange today.

Sabanci shares increased 2.5 percent to 7.44 liras.

Tesco Kipa Pazarlama Ticaret & Gida Sanayi AS (KIPA) , Tesco Plc.’s Turkish unit, jumped 4.5 percent to 7.84 liras, its highest close in more than four years.

Turkiye Sinai Kalkinma Bankasi AS (TSKB) , an investment bank, climbed 3.3 percent to 2.18 liras. The company is offering shareholders 0.375 bonus share for every share held to increase its capital by 300 million liras ($171 million), according to a statement to the exchange after the close yesterday.

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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