Turkey’s Tekfenbank Wraps Up Partnership Talks With Two Greek Banks

Tekfenbank is in final round of talks with two Greek banks and Saudi Oger for a possible sale of the bank’s shares, reported Reuters.

Tekfenbank is in final round of talks with two Greek banks and Saudi Oger for a possible sale of the bank’s shares, reported Reuters. Derya Tamerler, deputy general manager of Tekfenbank, told the news agency that they hold talks with possible investors from time to time; however there has been no concrete development to be announced. Previously, it was reported that Alpha Bank, Greece’s second largest bank, was interested in buying Tekfenbank shares. As for Saudi Oger Group, its Oger Telecom unit acquired a 55% stake in Turk Telekom in November 2005 for US$6.55 billion.

Mehmet Nazmi Erten, general manager of Tekfenbank said in mid-April that the bank held talks with four foreign investors for a possible partnership and the second round of talks would be completed near mid-May. After the completion of second round of talks, Tekfenbank would make a public announcement regarding the issue, he noted. The National Bank of Greece recently agreed to buy a 46% stake in Finansbank for US$2.8 billion.