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[July 28, 2013]
Efor Investment-Beetech reportedly eye stake in Digiturk. [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) A consortium made up of Efor Investment and Beetech is interested in acquiring stake in Turkey's digital broadcasting platform Digiturk.
Efor Investment-Beetech officially informed the related parties regarding its interest in Digiturk, daily Milliyet reported. The consortium plans to invest USD 10bn over the next five years in Turkey.
This week Turkey's largest telecom company Turk Telekom made a non-binding offer for a 53% stake in Digiturk. Turk Telekom did not disclose the details. Turk Telekom owns Tivibu, Turkey's first and leading internet TV service with 1.3mn paying users.
Dogan Group's digital broadcasting firm D-Smart already expressed its interest in rival Digiturk.
In May, the Saving Deposit Insurance Fund (TMSF) seized several companies of Cukurova Holding, including Digiturk.
Digiturk holds the Turkish football league broadcasting rights for 2010-2014. The company won a tender to broadcast the football league events with its USD 321mn bid in January 2010.
Cukurova owns 53% of Digiturk while Providence Equity Partners holds the remaining 47% stake in the company.
News Corp, Liberty Global are also said to be interested in Digiturk.
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