Kazakhstan: BTA in $160m Turkish sale
January 12, 2012 6:33 pm by Isabel Gorst
Kazakhstan’s decision to shell out $160m to relieve the troubled BTA Bank of a stake in a Turkish lender won’t be enough to rescue the state-controlled BTA from default.
But the move has lifted the mood among creditors afraid that Kazakhstan was ready to give up BTA as a bad lot: Samruk Kazyna, the Kazakh sovereign wealth fund, would not be paying out the cash if it intended to walk away.
More:Kazakhstan: BTA in $160m Turkish sale | beyondbrics | News and views on emerging markets from the Financial Times – FT.com
