Garantı Bank: Ge Stake Sale Decısıon Won't Affect Busıness Plan
Turkish private lender Garanti Bank AS (GARAN.IS) said Friday General Electric Co.'s (GE) decision whether to sell its 20.85% stake in the bank won't affect its business plan.
A Spanish banking giant is interested in General Electric's stake in Garanti Bank, Turkish daily Star reported early Friday, without citing sources. The daily named Spanish Banco Santander SA (STD)Banco Bilbao Vizcaya Argentaria (BBVACL.SN) as possible bidders.
Garanti said Thursday General Electric is assessing strategic options for its 20.85% stake in the bank.
(YC-YC-E-ENG)