BREAKING NEWS

Turkey seized 879 companies since failed coup, worth 40.3 billion lira

By REUTERS

MAY 24, 2017 15:44

ISTANBUL - Turkish authorities seized or appointed an administrator to a total of 879 companies worth 40.3 billion lira ($11.32 billion) in assets in the eight months since the failed coup last July, the state fund that runs the firms said on Wednesday.

According to a quarterly report by Turkey's Savings and Deposits Insurance Fund (TMSF), nearly 45,000 people were working in the seized companies. It added that a total of 147 media companies were shut down within the same period.

Turkey has taken control of a bank, several media firms and other enterprises as part of a crackdown on companies it suspects of links to sympathizers of Fethullah Gulen, the US-based cleric the government blamed for the July 15 failed putsch.

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