Sberbank Buys Turkish Garanti Bank from General Electric Co

Russia's largest creditor Sberbank plans to take part in the competition for buying 20.85 percent stake in Turkish bank Garanti Bank from the American group General Electric Co, said on Monday a source close to the negotiations. 

 Shares of Garanti - the most popular asset to the Istanbul Stock Exchange - worth almost $ 3.7 billion, based on current market quotations.

The American giant, General Electric is selling its stake in the Turkish Bank within the program to reduce its financial unit.

Nat Lawyer

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