Fenerbahce Sportif Hizmetler Sanayi & Ticaret AS (FENER), the listed arm of an Istanbul soccer club whose president has been jailed in a bribery investigation, soared on reports the team was cleared for play in Europe’s Champions League Tournament.

The shares rose for a fourth day, surging 12 percent to 49.20 liras at 4:20 p.m. in Istanbul, heading for their highest closing level since May 28, according to data compiled by Bloomberg.

The European soccer federation UEFA sent a decision to the Turkish Football Federation clearing Fenerbahce for play in the tournament, NTV reported without giving further details.

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