Banks Hire Lazard to Solve Turkey's Biggest Default - Bloomberg:
"Banks that provided a $4.75 billion loan to Turk Telekomunikasyon AS’s major shareholder hired Lazard Ltd. to advise them on the nation’s biggest ever default, according to three people with knowledge of the matter. The creditors also hired Raiffeisen Investment AG to advise in negotiations over the loan taken out by Ojer Telekomunikasyon AS, or Otas, which owns 55 percent of Turk Telekom. Other parties to the talks are the Turkish Treasury, which also has a stake in the company, and Saudi Telecom Co., which indirectly owns shares, the people said. Spokesmen for Turk Telekom, Otas and Raiffeisen declined to comment, while Lazard officials didn’t immediately respond to a request for comment."
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