Companies placed under control of fund in preparation for sale
Seven companies -- including the Cihan Media Group -- were transferred to Turkey's Savings Deposit Insurance Fund (TMSF) on Monday after being implicated in support for the group said to have organized the July 15 coup attempt.
The Istanbul 8th Criminal Court of Peace ruled the companies should be handed over to the TMSF as part of the investigations into the the Fetullah Terrorist Organization (FETÖ).
In March, court-appointed trustees were put in charge of Cihan, which produced Turkey's biggest selling newspaper, Zaman, among other media interests.
Hundreds of companies seized during FETÖ investigations have now been placed under TMSF control, including large conglomerates such as Boydak Holding and Koza Ipek Holding. They are expected to be sold on in auctions.
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