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    Turkey seeks lottery privatization permit

    Reuters
    09.10.2008 - 12:56 | Son Güncelleme:

    Turkey's Privatization Administration (OIB) has applied to the anti-trust board for preliminary permission to begin the sale of national lottery Milli Piyango, government sources told Reuters on Thursday.

    The privatization of Milli Piyango is expected to attract foreign firms, despite lacklustre foreign interest in recent Turkish privatizations and a global credit crunch.

     

    Milli Piyango posted sales of 459.8 million lira ($333.6 million) and 331.8 million lira net profit last year.

     

    Companies interested in the tender include GTech-Lottomatica, Essnet-Tattersall, Scientific Games, Camelot, Opap and Intralot, Turkey's Koc Holding, Austrian Lotteries, Sisal, Dogus Group, Alarko and Cukurova Group.

     

    OIB Chairman Metin Kilci has said companies might be invited to bid for Milli Piyango before Oct. 15.

     

    Milli Piyango's license will be granted for 10 years, and the winning firm will receive 17 percent of the company's revenues, with the rest to be divided between state institutions.

     

    The sell-off is part of a wide privatization program, which has stalled this year due to a lack of foreign interest, a credit crunch in world markets and domestic political uncertainties.

     

    The Turkish Competition Board needs to decide on the OIB's application within 28 working days.

     

     

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