Caution over Turkish revival despite Yapi Kredi block

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By Sam Kerr
06 Feb 2020

Investors warmly welcomed a TL2.6bn ($440m) block trade in Turkish bank Yapi Kredi on Wednesday night. But market participants are yet to be convinced that the country’s equity capital markets are fully reopened.

CitiJP MorganMorgan StanleyUniCredit and Kepler Cheuvreux were trade’s bookrunners.

The seller was UniCredit, which was offloading an 11.9% stake in the company. The bank was left holding 31.9% of Yapi Kredi after the dissolution of its joint venture with Turkish conglomerate Koc Holding.

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