Malaysia Airports Holdings and TAV Havalimanlari are in separate talks with GMR to buy its 40 per cent in Sabiha Gokcen airport, one of Istanbul's two airports, sources told Reuters last week.
Citing a person familiar with the development, a local newspaper had said on Friday that GMR sold its stake in the airport to TAV.
The report had also said the deal was likely to be announced after terms are worked out with two other stakeholders in the airport.
Malaysia Airports, which already holds a 20 per cent in the airport, Turkish firm Limak, which owns 40 per cent, and GMR acquired the operating rights to the airport for 20 years for 1.93 billion euros in 2007.
GMR, whose business interest include airport, power and roads, said in a statement on Friday that the "right of first refusal process in respect of the sale of stake is in progress" and the deal was not concluded.
Copyright @ Thomson Reuters 2013
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
