The privatization tender for Turkey's Erdemir will be held at 4:00 PM on October 4 and a total of six firms and consortiums will compete for the bloc sale of 46.12 percent of the company at Ankara Hilton Hotel.

The timing of tender is kept at 4:00 PM in order to prevent the shares of bidders transacted at the Stock Exchange to be affected negatively.

The Privatization Administration, OIB, also made reservations at the Sheraton Hotel and two public facilities other than Bilkent as a precautionary measure against possible reactions.

The tender for Erdemir, which was earlier planned to be held on October 3, was postponed to October 4 because officials could not predict outcomes of Turkey's membership negotiations with the European Union EU.

The OIB negotiated with three firms including Eregli Joint Enterprise Group on Thursday and the other three firms on Friday to ask them to revise their offers. Erdemir officials said whether the tender will be held on October 3 or 4 will have no effect on Erdemir's price. The officials also noted that everything will be clarified in October 3 morning assured that companies that will participate in Erdemir will not be negatively affected by the October 3 entry talks.