Turkey sells 10 pct shares of Borsa Istanbul to Qatar for $200 million
The Turkey Wealth Fund (TWF) on Monday announced that it had sold 10 percent of shares in the country's sole stock exchange,Borsa Istanbul, to the Qatar Investment Authority (QIA) for $200 million.
The TWF will continue to retain 80.6 percent of shares in the Borsa Istanbul and the sale implies a total equity value of $2 billion for the stock exchange, it said.
Monday’s announcement effectively finalises an agreement signed last week.
Turkey and Qatar on Nov. 26 signed 10 new agreements in a bid to further boost bilateral ties between the two strategic allies, with the sale of 10 percent shares of Turkey's stock exchange, Borsa Istanbul, to the oil-rich the Gulf nation headlining the string of deals.
Critics, including the leader of Turkey’s main opposition party, Kemal Kılıçdaroğlu, have condemned the move, as the latest mistake by the government in selling major Turkish properties to the Qataris at Ankara’s expense.