The forthcoming IPO to be held by Türk Telekom has come in for criticism.
Speaking to the local press, Metin Kilci, the head of the privatisation administration overseeing the process, denied that the price demand by the government for selling a 15% stake in the company, valuing it at up to $12.7 billion (€8.1 billion), is too low.
Dubai-based Oger Telecom acquired a 55% stake in Türk Telekom for $6.6 billion in 2005, and shares in the telco are expected to start trading on the Istanbul Stock Exchange on May 15.
