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• BAT wins TEKEL tobacco bid for $1.72 billion 

The privatization of Turkey's alcohol and tobacco monopoly TEKEL's tobacco division is finally complete, as British American Tobacco (BAT) won the tender yesterday with a $1.72 billion bid.

The tender, the third attempt to privatize TEKEL's tobacco division since 2003, was held yesterday in İstanbul. The sealed bids for the privatization had been received on Feb.18, and the date and time of the auction were withheld to prevent protests by worker and socialist groups opposed to the privatization of the company.

Privatization Administration (�İB) President Metin Kilci said after the tender that they were going to take all the necessary measures to protect the rights of TEKEL workers. He said the hand-over process will be completed after the necessary approval is granted by the Competition Board and the Supreme Privatization Board (�YK).

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