The Treasury’s record tax levy against the Doğan Media Group, or DMG, managed to bypass even the Central Bank’s 1.5 percent rate cut as the shocker of last week. It is true that given the past surprises, the real surprise would have been if the Bank had cut the policy rate in line with expectations, but the Treasury still deserves some credit for stealing the show.
ISTANBUL - The half-a-billion-dollar levy imposed by the Treasury against Doğan Media Group, parent company of the Hürriyet Daily News & Economic Review, pushed its value downward yesterday, worrying some analysts as others predicted interest in the shares may be buoyed by its temporary bargain value as Turkey’s biggest media company.