November 25, 2019 / 5:18 AM / 16 days ago

Turkey's Koc says no board decision on Yapi Kredi shareholder structure

ISTANBUL, Nov 25 (Reuters) - Turkey’s Koc Holding said on Monday there has not been any board of directors decision yet on the shareholder structure of Yapi Kredi Bank after three sources told Reuters UniCredit had struck a deal to reduce its exposure to the bank.

In a statement to the Istanbul stock exchange, Koc said there were ongoing negotiations with UniCredit on the reorganization of the shareholder structures of KFS (Koc Finansal Hizmetler) and Yapi Kredi (YKB) “in such a manner to ensure that the parties shall not reach direct or indirect majority of YKB”. (Reporting by Birsen Altayli; Writing by Daren Butler; Editing by Jonathan Spicer)

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