[Hephaestion]

The sale of the right to operate İzmir Port to Hong Kong's Hutchison Whampoa and Turkey's Global Yatırım was suspended Thursday, a decision that received strong reactions from the business community.

The State Council Administrative Matters Branch Committee decided to stop the handover of the port and canceled the Supreme Privatization Board (ÖYK) decision concerning the sale of the port, which belongs to the Turkish State Railways (TCDD).
The ÖYK had previously approved the transfer of the management rights of the port for $1.275 billion. The board approved the sale July 3, 2007, giving the nod to one of the year's biggest asset sales. After eight months, the Council of State, acting upon a complaint by the Port Workers Union (Liman-İş) and the Foundation for Developing Public Institutions Management, blocked the handover.
Global Yatırım, whose shares on Thursday fell most in more than a year, said in a written statement that they were not given any notice about the annulment of the tender.
On the other hand, Liman-İş İzmir Branch Chairman Niyazi Tuncer said the decision is “satisfactory.” “It is satisfactory not only for us but for the sake of Turkey. This port makes good money,” Tuncer told the Turkish Daily News. “It is not right to give it to foreigners. The workers are happy, too.”

More here.

All I can say is thank goodness for common sense!!!

My hometown in England has had Hutchinsons on it´s back for years!

Bravo Izmir!