Bloomberg News

Denizbank in Turkey Jumps to its Highest in 6 Months on Bids

April 11, 2012

Denizbank AS (DENIZ), the Turkish lender owned by Belgium’s Dexia SA (DEXB), rose its highest in almost six months as Russia’s biggest bank said it was still interested in buying and Reuters reported Qatar National Bank SAQ (QNBK) revised its bid higher.

The shares gained 3 percent to 15.50 liras at the close in Istanbul, the strongest since Oct. 21.

Russia’s OAO Sberbank (SBER) is still interested in buying Denizbank after dropping out of an auction earlier this year because it considered the valuation too expensive, Sberbank Deputy Chief Executive Officer Sergey Gorkov said today in an interview in Belgrade.

Qatar National Bank SAQ made a revised, higher bid for Denizbank, Reuters reported, citing people it didn’t identify.

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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