Turkey to Invite Third-Placed Bidder for Istanbul Grid Sale
October 31, 2011, 12:46 PM EDT
By Ali Berat Meric
Oct. 31 (Bloomberg) -- Turkey’s asset sales agency said it will invite Park Holding AS to discuss buying the power grid on the European side of Istanbul after the second-placed bidder didn’t deposit collateral in time.
Aksa Elektrik Perakende Satis AS didn’t post the money required to secure the right to buy, the agency said in an e- mailed statement from Ankara today. Aksa bid $2.75 billion for the network in an auction in August last year. Park’s offer was $2.5 billion in the auction.
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