The French banking group Societe Generale (SG) is in advanced negotiations to buy up to half of the Turkish banking group Iktisat Bankasi, the Financial Times (FT) reported Saturday.
SG could take from 30 to 50 percent of Iktisat, a leading trade finance bank based in Istanbul and owned by the Aksoy family, the British economic daily newspaper reported.
Sources at Societe Generale were unavailable for comment Saturday to confirm or deny the story.
According to banking sources cited by the FT, the two sides are hoping to close the deal for Iktisat, valued at $200 to $400 million (€220 to €440 million), by the end of this year.
© Agence France Presse 2000
