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Al Jazeera weighs bid for $1 bln Turkish pay-TV firm Digiturk - sources

Reuters - UK Focus

DUBAI/ISTANBUL, Dec 18 (Reuters) - Television broadcaster Al Jazeera is considering a bid for a majority stake in Turkish digital pay-TV operator Digiturk, three banking sources aware of the plans said, in a move by the Qatar-backed broadcaster to further expand its footprint.

Al Jazeera, which operates under the patronage of the emir of Qatar and his family, has appointed Barclays Capital , the investment banking arm of the British lender, to help assist with the process, one of the sources said.

Al Jazeera was not available for comment, while Barclays (Dusseldorf: BCY.DU - news) declined to comment.

A formal bidding process for the business is expected to begin in early 2014 and several local and international parties may join the race for the asset, the sources said.