16 November 2007 /TODAY’S ZAMAN WITH WIRES
The sale of bid specifications for Turkey’s alcohol and tobacco monopoly TEKEL begins today, and both domestic and foreign entities are expected to purchase the spec packets.
This marks an important stage in the privatization of TEKEL’s tobacco division, which is going up for sale for the third time since it was taken over by the Privatization Administration (ÖİB) in 2003. Doğan, a business giant with interests ranging from finance to media, had revealed its interest and announced just a week ago that it was seeking a partner for its TEKEL bid. World’s leading cigarette producers Japan Tobacco International and British American Tobacco are also among possible bidders. The Turkish Federation of Grocers and Vendors (TBBF) is another local candidate for TEKEL. There have been rumors that a number of investment funds from the US and Britain are also interested in the TEKEL bid.
