TITLE

The final curtain?

AUTHOR(S)
Gorvett, Jon
PUB. DATE
April 2004
SOURCE
Middle East;Apr2004, Issue 344, p50
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
It has been a tragedy in at least five acts, with a few additional scenes and the odd false curtain call, but the drama of the rise and fall of one of Turkey's top business dynasties now seems to be finally drawing to a close. In February 2004, officials from the country's Savings Deposit Insurance Fund (TMSF) seized control of some 219 companies belonging to the controversial Uzan family. The reasoning behind the TMSF's sudden move was the $32 billion it claims the Uzan group of companies owes government institutions. A sizeable chunk of this is owed by Telsim, the Uzan's mobile phone network. Owners of business interests as varied as cement and television, Uzans have now fallen a long way from days when they were coveted by prime ministers and presidents.
ACCESSION #
12738187

 

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