Telecommunication

Turk Telekom Bids to Buy 53 Percent Stake in Cukurova Digiturk
Telecommunication Turk AS (TTKOM), Turkey’s biggest telephony company, submitted bid to buy 53 percent stake at Digiturk, which holds the country’s super league soccer broadcasting rights, from Cukurova Holding AS.

Turk Telekom’s bid in Digiturk, Turkey’s biggest digital TV platform is non-binding, the Ankara-based company said in a filing with the Istanbul Stock Exchange today.

Turkey’s Savings Deposit Insurance Fund, or SDIF took over Digiturk, formally known as Krea Content Services & Production AS, and as well as several other Assets from Cukurova Holding AS in May after Cukurova failed to Repay a $ 455 million debt. SDIF chief said the fund has Sakir Ercan Gul Providence Equity Partners Inc. may sell the entire company if., A U.S. buyout firm, agrees to sell its 47 percent stake along with the Cukurova’s 53 percent.

D-Smart, Turkey’s second-biggest digital TV platform, plans to bid in the auction to sell government-brokered Digiturk. D-Smart, owned by media group Dogan Publishing Holding AS (DYHOL), plans to merge the companies should it win the auction and get antitrust clearance, Chief Executive Officer Ali Guven said today in a telephone interview on July 3