Much Speculation as Tekel Roadshow Hits London

Source from:  tr.itsmyiq.com Sep 28, 2007 09/29/2007

Japan Tobacco (JT) is poised to offer about $1.5 billion for the cigarette business of Tekel, according to a report by Leo Lewis for the Times of London. Quoting unnamed sources close to the company, the report said that JT's offer was likely to be made within six weeks. Yesterday, representatives of Tekel arrived in London for an investment roadshow organized by Citigroup for potential buyers. Meanwhile, according to a report in The New Anatolian, the Turkish Finance Minister, Kemal Unakitan, and Privatization Administration chairman, Metin Kilci, were due to hold a series of talks with several potential investors. Various sources said that it was expected that a number of organizations, including JT, British American Tobacco, KT&G and Imperial Tobacco, along with Turkish investors and foreign funds, would participate in any privatization tender. Enditem