The 13 companies that had gained initial qualification are not obligated to enter the information process, however, if they do they are not going to pay any fees. It has been reported that information process could continue for 5 weeks and that 2 or 3 information rooms could be established.
The company that is going to buy 55% block shares of Turkish Telecom could pay the price in advance or by installments. It is reported that in the installment option the buyer will be granted the opportunity to pay 20% in advance, and the rest in 5 equal installments in 5 years time with libor+2.5 interest.
Turkish Telecom’s Value
The information about the acquisition of AT&T by a local phone company SBC, for $16 billion has caused the reconsideration of Turkish Telecom’s value. Once the monopoly in its field in the USA, with its $34 billion turnover AT&T’s sale for $16 billion is being speculated.
