Turkey exempts state companies from some M&A restrictions

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ANKARA, May 30 (Reuters) – Turkey’s markets regulator has exempted state companies from some merger restrictions to help them restructure following the coronavirus pandemic, according to a decree published in the Official Gazette on Saturday.

State companies, whose shares are publicly traded on the Istanbul stock exchange, will be exempt from restrictions on mergers and the length of time companies have to wait until they can sell their shares after a buyout, according to the decree.

The move aims to make it easier for structural reforms to take place as the country fights the impact of the coronavirus, the Capital Markets Board said. (Reporting by Ece Toksabay; Editing by Christina Fincher)

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