Wednesday, March 5, 2008

Labour union appeals against privatisation of tobacco unit of Tekel.

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Labour union appeals against privatisation of tobacco unit of Tekel. Labour union Tekgida-Is, together with a tobacco industry association, filed an application to the council of state, the top administrative court, to annul the privatisation of the tobacco processing and cigarette production unit of Tekel via block sale. The union asks the court to cancel the tender commission’s decision that finalised the auction and requests an injunction order from the 13 th chamber of the council of state until the case is concluded. In the auction held last month on Feb 22, British American Tobacco, the world’s second largest tobacco company, offered the best bid of USD 1.72bn for the tobacco processing and cigarette production unit of Tekel, a former state monopoly. BAT outbid three other competitors that were Limak Insaat Sanayi ve Ticaret and PI Turkey LLC consortium, Strand Investment S.AR.L, and Citi Venture Capital International-Dogan-TUTSAB joint venture. The union argues that the privatisation of Tekel does not pursue public interest.

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Labour union appeals against privatisation of tobacco unit of Tekel.

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