Digiturk receives $754 million offer for majority stake

Turkey’s Dogan Holding, a body which holds a number of the country’s media assets, has made a $754 million bid for a 53% stake in digital TV operator Digiturk.

The offer values Digiturk at $1.4 billion and trumps Turk Telekom’s $530 million offer for the company, made in July this year.

Despite the significant monetary difference, sources familiar with the deal told the Financial Times that Dogan’s ownership of Digiturk’s biggest competitor – TV operator D-Smart – may disadvantage its offer.

No formal auction process is underway and Dogan said in a statement on Monday that it would make announcements as and when any further developments were made.