Power giant ČEZ begins pull-out from Turkey

The Czech power giant ČEZ has begun its departure from the Turkish market. On Friday the semi-state company signed a deal to sell its 50-percent stake in the firm Akcez, though the transaction must still be approved by the Turkish authorities.

In a statement, ČEZ said the move was part of a strategy of divesting from certain markets and focusing on renewable resources and modern power services.

Author: Ian Willoughby