A unit of Turkish tourism company Net Holding has won a privatisation tender to operate the countryâ€™s national lottery for 10 years for $2.76bn.
Net Sans-Hitay secured the tender above two competitors â€“Czech investment groups KKCG and Emma Capital, who made a combined bid, and Italian provider GTech S.p.A.
While the tender was won on Tuesday, Reuters reports that the countryâ€™s privatisation administration has said it now has to be given final approval by Turkeyâ€™s privatisation and competition boards as well as by a high court.
Turkey had planned to privatise the lottery in 2009 but the idea was scrapped after two bidders failed to meet the $1.6bn minimum asking price. Instead it opted to sell licences for games operated by the lottery.