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Turkey: Bid launched for pay-TV firm

By  |  September 2, 2013

Turkey-based Dogan Group announced Monday plans to acquire Digiturk, one of the nation’s pay-television operators, in a $742 million deal.

Digiturk is currently controlled by the Savings Deposit Insurance Fund; the state agency acquired the company, along with dozens of other companies, last May from Cukurova Holding. Reports say the bid will be issued to Cukurova, and the Savinds Deposit Insurance Fund will tender Digiturk.

Dogan already owns the nation’s rivaling pay-TV company, D-Smart. Experts say the nation’s top telecommunications firm Turk Telekom may also be interested in Digiturk.

The deal remains subject to regulatory approval, and one analyst told reporters that he is skeptical the deal will be cleared due to Dogan’s current hold over the pay-TV market.

Full Content: Reuters

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