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Weekly Lists
July 13, 2018 www.intellinews.com I Page 27
bne:TMT Turkish lenders
confirm takeover of 55% stake in Turk Telekom
Uzbekistan signs decree aimed at cryptocurrency, blockchain technology development
The major creditors of Turk Telekom have called in their loans and will take control of the company, bringing the saga of the country’s largest default to an end.
All the creditors, including, Borsa Istanbul-listed Akbank, Garanti Bankasi and Is Bankasi, have reached an agreement on restruc- turing the debts of Ojer Telekom (Otas), the major shareholder of Turk Telekom, provided under the loan agreements, the three listed lenders said on July 6 in separate bourse filings.
Accordingly, a special purpose vehicle set by OTAS’ Turkish credi- tors will takeover a 55% majority stake in Turk Telekom. The deal is subject to required approvals from related authorities.
Uzbek President Shavkat Mirziyoyev has signed a new decree aimed at encouraging development and integration of cryptocurrency and blockchain technology in Uzbekistan, the news website CoinFrenzy. io reported on July 5.
The new regulations come as the Uzbek government has noted that transactions involving crypto-assets are currently not taxable in
the country for both residents and non-residents. In other words, the state budget is losing out on revenues generated from such transactions.
The decree includes the development of a legal framework to rec- ognise and legalise the crypto and blockchain sector by outlining a “highly favourable” tax position for the crypto sector.
Serbia’s IT sector exports this year were up by as much as 32.4% compared to last year, and in April alone exports rose by 44% compared to the same month last year, Serbian Prime Minister Ana Brnabic said, emphasising the strong growth of the IT sector in Serbia during her meeting with representatives of the Chinese company Huawei on July 6.
The IT industry in the country has been expanding in the last few years, as many IT experts have started setting up their own companies which provide services to international firms.
Serbia’s IT sector exports up 32.4% y/y