Turk Telekom ownership passed to lenders

Turk Telekom
By Mike Turner
17 Jul 2018

A holding company owned by Dubai’s Oger Telecom has come to an agreement with all of its lending banks to give control of Turk Telekom to creditors, after months of restructuring talks on a $4.75bn loan.

Otas Holdings has agreed to hand over its 55% share in Turkey’s formerly state-owned telecoms company to a special purpose vehicle that will be incorporated in Turkey, and owned directly or indirectly by the creditors, according to banks on the deal. 

Chinese walls within banks means that the loans ...

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