Turkish conglomerate Koc Holding said it is not in talks over the sale of its stake in Yapi Kredi Bank to Qatar National Bank (QNB).
The clarification came after local media reported on a potential deal.
“There is no discussion for the sale of unit Yapi Kredi’s shares to QNB group,” Koc Holding said in a statement, Reuters reported.
No deal with Qatar’s QNB says Koc Holding
“We may evaluate alternatives for our portfolio and may always engage in discussions with the relevant parties as necessary,” it said.
Turkish newspaper Sozcu reported that Koc Holding was in talks with QNB to sell its stake in Yapi Kredi Bank.
Since May, shares in Koc Holding and Yapi Kredi Bank fluctuated over sale rumours and on Friday closed at down 0.25 percent and down 4.14 percent, respectively.
In May, Reuters reported that First Abu Dhabi Bank had been in advanced talks to acquire Koc’s 61.2 percent stake in Yapi Kredi Bank.
The conglomerate later said preliminary discussions for the sale of its shares in Yapi Kredi Bank have been terminated.
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