Sliding lira increases Chinese investor appetite for Turkish firms

Chinese e-commerce giant Alibaba wants to take advantage of the plummeting lira and aims to purchase Turkish companies, Euronews said on Friday.

Alibaba in July acquired a majority stake in Turkish e-commerce company, Trendyol. 

Other Chinese investors are also in talks with Turkish companies over U.S. investment banks, Euronews said. 

In addition to Alibaba, four Chinese companies, including China Merchants Group and China Life Insurance have had at least 20 meetings with Turkish companies for potential purchases, sources told Euronews.

Chinese firms are particularly interested in investing in mining, energy, retail, and insurance sectors, Euronews said.