9/8/2008

Regulator to sell Olay TV for $35 mln

Bloomberg - Turkey's Savings Deposit Insurance Fund, or TMSF, charged with recouping losses from failed banks, is planning to sell textile industrialist Cavit Caglar's Olay TV with a price tag of $35 million. The Fund will auction the TV station, based in the northwestern city of Bursa, alongside its radio and newspaper October 8, it said in an e-mailed statement. Bids can be submitted until October 7.