Turkey is poised to embark on a reorganisation of some of its biggest state companies ahead of possible stake sales or public offerings, Bloomberg reported on Wednesday.
The government will focus primarily on energy companies such as state pipeline company Botaş, Bloomberg said, citing people with knowledge of the plan, which has yet to be made public.
President Recep Tayyip Erdoğan’s government will seek to divide Botaş into smaller pieces and render trading and pipelines as separate businesses as it attempts to liberalise the natural gas market, Bloomberg said. The overhaul will introduce a profit-driven mindset to the businesses, the people said.
The companies could then be prepared for privatisation or a sale on the Istanbul Stock Exchange as they become profitable, Bloomberg reported.