The volume of mergers and acquisitions (M&A) transactions in Turkey, including unclosed ones, reached $5 billion in 2019, said audit and consulting giant Ernst & Young (EY) on Tuesday. 

Last year’s volume was down on an annual basis, as high-volume transactions were replaced by medium- and low-volume transactions, said the EY Turkey report.

“It is seen that the foreign investors’ interest in Turkey was below the country’s potential due to negative developments in the region, contraction in demand and uncertainties in global markets,” it underlined.

A total of 212 M&A transactions were sealed in 2019, up from 191 the

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