Deals and IPOs

Five Firms Interested in Buying Turkey's ATV-Sabah


News Corp , ProSiebenSat.1, RTL Group, Czech CME and Greek Antenna TV are interested in buying Turkey's ATV-Sabah, an official at the body selling the firm said on Monday.

Turkey's State Deposits and Insurance Fund (TMSF) seized the media assets which now make up ATV-Sabah in April and plans to auction the restructured company on Nov. 7 with a minimum price set at $1.1 billion. The company includes top-rated entertainment channel ATV and major daily newspaper Sabah.

The TMSF official told Reuters all five firms had bought the documents necessary to take part in the auction.

Foreign companies will have to find local partners to bid with as a law limits foreign ownership of broadcasters to 25%.