Turkish sovereign wealth fund gets airline, bank shares

By Bahattin Gonultas

ANKARA

The Treasury's 49.12 percent stake in the national flag carrier Turkish Airlines and 51.11 percent shares in the state-lender Halkbank have been transferred to Turkey’s newly-formed sovereign wealth fund, according to the Turkish Privatization Authority on Monday.

The authority made the revelation in a statement to Borsa Istanbul, which came after the Treasury’s shares in several other companies were also transferred to the country's sovereign wealth fund a day earlier.

On Sunday, the Prime Ministry said the Treasury’s shares in the state-run lender Ziraat Bankasi, the country's stock exchange market Borsa Istanbul, General Directorate of Post and Telegraph Organization (PTT), Petroleum Pipeline Corporation (BOTAS), national petroleum producer TP, communication services and satellite technologies company TURKSAT, and 6.88 percent treasury shares in telecommunication company TurkTelekom plus Turkey's official mining company Eti Maden and General Directorate of Tea Enterprises (CAYKUR) were all transferred to the sovereign wealth fund.