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syndicated loans was renewed. As for costs, despite the rise in risk premium, there was a Libor-driven decline in total borrowing costs,” the central bank said on May 29 in its latest financial stability report.
Turkey’s central bank ​said​ on June 19 that it had used a Chinese yuan funding​ facility for the first time under an existing swap agreement with the People’s Bank of China. Turkish companies in various sectors the previous day paid, via banks, their import bills from China using yuan, it added.
Turk Telekom, the country’s largest telecom company, said that it was among the companies that had used the mechanism provided by Turkey and the new swap agreement to cover import payments, state-run news service Anadolu Agency reported.
The figures were not released but it is certain that they were small compared to Turkey’s deficit in trade with China. It is more a public relations activity as post-truth always employs facts but the perceptions aimed to be created over the facts are generally far from the truth.
5.3​ FDI
The Peak Games deal, expected to close in the third quarter, is made up of $900mn in cash and $900mn in Zynga stock, the San Francisco-based company ​said​ in a June 1 statement.
Turkey Wealth Fund (TVF) has acquired Sweedish telecom company Telia’s 24% stake in largest Turkish mobile operator Turkcell for $530mn, TVF ​said​ on June 18 (See Section 9.2.7).
TPAY Mobile, the leading digital merchant acquirer and mobile payment enabler in the Middle East and Africa, has ​bought​ 100% of Turkish mobile payment platform Payguru for an undisclosed sum.
Belgium-based team.blue has ​agreed​ to acquire 100% of Natro, a leading Turkish hosting provider.
Austrian Post has ​announced​ that it has struck an agreement with Turkey’s Aras Kargo to raise its stake in the Turkish parcel delivery firm to 80%. The deal follows years of dispute (See Section 9.2.3).
Major M&As in Turkey
Date
Sold
Stake
Price
Buyer
Seller
37​ TURKEY Country Report​ July 2020 ​ ​www.intellinews.com