Türk Telekom is likely to be floated by the end of May 2008 at the latest, according to local agency reports. Any offer, which will have to be approved by the government, will see the state reduce its current stake of 45% to 20-30%. Türk Telekom is already majority owned by Saudi Arabia’s Oger Telecom, which acquired a 55% stake in the company in Q4 2005. It was recently hit by strike action, which ended in controversial circumstances at the end of November.
