Thursday 27, September 2018 by Kudakwashe

Nasdaq no longer has stake in Borsa Istanbul


Nasdaq held a seven per cent stake in the Turkish stock exchange and had an option to sell the stake which might have been exercised.

Nasdaq no longer has a stake in Borsa Istanbul, according to partnership structure data on the Turkish stock exchange’s website.

Subsequently, the Turkish sovereign wealth fund’s (TVF) shareholding in the stock exchange now stands at 80.6 per cent, compared with a previous 73.6 per cent.

The TVF, with assets worth $50 billion, was set up by Turkey’s government to develop and increase the value of Turkey’s strategic assets and provide resources for investment, reported Reuters.

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