BlackRock to Third Point Blindsided as Turkey Shares Plummet - Bloomberg:
"BlackRock Inc. (BLK), the world’s biggest money manager, and billionaire Dan Loeb’s Third Point LLC. are among investors hurt by slumping Turkey stocks as a corruption probe into businessmen and politicians prompted declines.
Turkiye Halk Bankasi AS (HALKB) dropped 13 percent since its chief executive officer was detained yesterday as part of the probe, a day after a regulatory filing showed BlackRock bought 3.9 million shares. Emlak Konut Gayrimenkul Yatirim Ortakligi AS (EKGYO), Turkey’s biggest real-estate developer, posted a 12 percent two-day drop after Third Point invested $150 million last month.
Suleyman Aslan, the CEO of Halkbank, and Murat Kurum, his counterpart at Emlak Konut, were among dozens taken into custody during a probe into gold smuggling, money laundering and bribery in government tenders, state-run Anatolia news agency reported. The lira slumped and stocks dropped the most in the world after the executives were detained yesterday with the sons of three cabinet ministers by a unit of Istanbul’s police."
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