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    Sale of Star TV approved for $306.5 million

    Hürriyet Haber
    27.10.2005 - 10:26 | Son Güncelleme: 27.10.2005 - 10:26

    The sale of Star TV was approved on Wednesday. After analyzing the Turkish Savings and Deposit Insurance Fund's (TMSF) application for the tender of Star TV, the Competition Board found the sale to be in line with competition law and approved the sale of Star Media Group to Isil TV, a Dogan Media Group affiliate, for $306.5 million. The tender was won by Isil TV on September 26, when a bid for $306.5 million was made – double the estimated price of $155 million.

    Sales realized by the TMSF are considered to be a type of privatization, therefore, all sales must be approved by the Competition Board.

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