Koc Holding says not in talks over sale of Yapi Kredi shares to QNB (updated)

QNB

29/11/2024 16:13

(Updates with quotes and background)
       ISTANBUL, Nov 29 (Reuters) - Turkish conglomerate Koc
Holding said on Friday it was not in talks over the sale of its
stake in Yapi Kredi Bank  YKBNK.IS  to Qatar National Bank
(QNB), after local media reported on a potential deal.
    "There is no discussion for the sale of unit Yapi Kredi's
shares to QNB group," Koc Holding said in a statement.
    "We may evaluate alternatives for our portfolio and may
always engage in discussions with the relevant parties as
necessary," it said.    
    Turkish newspaper Sozcu reported on Friday that Koc Holding
was in talks with QNB to sell its stake in Yapi Kredi Bank.
    Since May, shares in Koc Holding  KCHOL.IS  and Yapi Kredi
Bank  YKBNK.IS  fluctuated over sale rumors and on Friday closed
at down 0.25% and down 4.14% respectively.
    In May, Reuters reported that First Abu Dhabi Bank  FAB.AD 
had been in advanced talks to acquire Koc's 61.2% stake in Yapi
Kredi Bank. The conglomerate later said preliminary discussions
for the sale of its shares in Yapi Kredi Bank have been
terminated.

 (Reporting by Ebru Tuncay, Writing by Ezgi Erkoyun and Huseyin
Hayatsever, Editing by Louise Heavens)
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