Turkish prosecutor orders seizure of media-to-education group Can Holding (updated)

Tekfen Holding

11/09/2025 09:19

Adds Tekfen, TMSF comments, background in paragraphs 2, 5 and 10

ISTANBUL, Sept 11 (Reuters) - A Turkish prosecutor's office said on Thursday it ordered the seizure of the companies of Can Holding, owner of major media outlets and schools, in an investigation into money laundering, tax evasion and organised crime.

Can Holding owns major television channels Haberturk, Show TV and Bloomberg HT, which it acquired from Turkey's Ciner Group late last year. Can also owns Istanbul Bilgi University and private schools franchise Doga Koleji, according to its website.

Nobody from Can Holding was immediately available to comment on the investigation when contacted by telephone.

Can Holding also has shares in construction group Tekfen Holding TKFEN.IS. Tefken's shares were down 8.3% in Istanbul in early trading.

In a statement to the stock exchange, Tekfen Holding said entities linked to Can Holding hold a combined 17.56% stake in Tekfen. It said no judicial action had been taken against those shares or Tekfen's corporate entity.

Istanbul's Kucukcekmece prosecutor's office said in a statement Can Holding and its owners were using their companies to move money illegally and forging documents. It said an organised crime ring was established by Can Holding owners Mehmet Sakir Can and Kemal Can.

Reuters tried to contact Mehmet Sakir Can and Kemal Can via Can Holding but they were not available for comment.

It said Turkey's financial crimes investigation unit had inspected Can Holding's documents and accounts, finding that it was illegally obtaining funds, evading tax regulations, while financing operations through illegal funds.

"As part of the operation, assets of 121 companies were seized, TMSF was appointed as a trustee, and detention orders were issued for 10 suspects," it said, referring to Turkey's Savings Deposit Insurance Fund (TMSF).

TMSF said its priority during this period was to protect the rights of employees and third parties, and to ensure uninterrupted business operations. It said that all companies under its management will be run in line with legal requirements.

 (Reporting by Tuvan Gumrukcu; Editing by Daren Butler and Jane Merriman)

 ((tuvan.gumrukcu@tr.com; @tuvangumrukcu; Reuters Messaging: tuvan.gumrukcu.thomsonreuters.com@reuters.net))