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By Dinesh Nair and Asli Kandemir
DUBAI/ISTANBUL, Dec 18 (Reuters) - Television broadcaster AlJazeera is considering a bid for a majority stake in Turkishdigital pay-TV operator Digiturk, three banking sources aware ofthe plans said, in a move by the Qatar-backed broadcaster tofurther expand its footprint.
Interest for control in Digiturk intensified in recentmonths after a 53-percent stake in the firm was seized byTurkey's Savings Deposit Insurance Fund (TMSF) in May fromCukurova Holding, a conglomerate headed by Mehmet Emin Cukurova,one of the country's most powerful businessmen.
U.S. private equity group Providence Equity Partners ownsthe remaining 47 percent of Digiturk. Digiturk has an equityvalue of $1 billion, which excludes around $500 million of debt,giving the firm an enterprise value of around $1.5 billion, twoof the sources said, speaking on condition of anonymity as thematter is not public.
Al Jazeera's interest in Digiturk stems from the pay-TVoperator's access to football rights in the country, the sourcessaid. Qatar, the world's top exporter of liquefied natural gas,is set to host the football World Cup in 2022.
Al Jazeera, which operates under the patronage of the emirof Qatar and his family, has appointed Barclays Capital, the investment banking arm of the British lender, tohelp assist with the process, one of the sources said.
Al Jazeera was not available for comment, while Barclaysdeclined to comment. TMSF declined to comment on the stake sale.Cukurova officials were not immediately available for comment.
A formal bidding process for the business is expected tobegin in early 2014 and several local and international partiesmay join the race for the asset, the sources said.
