Bloomberg News

AFM Cinemas Falls in Istanbul on Regulator Ruling Forcing Sale

April 03, 2012

AFM Uluslararasi Film Produksiyon & San AS (AFMAS), a Turkish chain of cinemas, fell after saying a ruling by the competition regulator would lead it to sell six of its cinemas.

AFM dropped 1.8 percent to 13.50 liras at 12:25 p.m. in Istanbul, declining for the first day in three.

AFM will turn over the cinemas, including four in Istanbul, to “potential buyers at varying prices within six months” after the regulator’s decision, the company said in a statement to the Istanbul Stock Exchange after the market 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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