Tender Process Of Turkish Telecom Will Be Extended Until The End Of July

ANKARA (CIHAN) - Turkish Transportation Minister Binali Yýldýrým stated on Wednesday that the Turkish Telecom's (TT) tender process leading to a block sale of the TT shares -equivalent to 51 percent of the company- will be extended until the end of July.
Yýldýrým stated that, "The tender date of TT had been announced for July 15, but it was extended until the end of July due to the demand of foreign companies for additional time. The new tender date of TT will be announced near the end of July".
Turkish President Ahmet Necdet Sezer had approved a law which will provide for 95 percent of Turk Telecom shares to be sold to both foreign and domestic investors in the beginning of July.
TT's income rose by 8.7% from 1,572 trillion TL net income during the first quarter of 2003 to 1,710 trillion TL in 2004. Also during the same period TT's revenues increased by 17.1%.