The sovereign wealth fund in Turkey is considering the option to divest its shareholdings in the country’s major telecommunications firm Turkcell Iletisim Hizmetleri AS.

The plan to sell the 26.2% stake has been taken up with potential buyers during informal talks, but the board of Turkey Wealth Fund (TWF) has yet to come up with a formal decision, Bloomberg reported on Monday, citing people familiar with the matter.

The idea has also been met with opposition from some people within the fund because Turkcell is considered a “strategic asset”.

Interested investors come from the Arabian Peninsula and Azerbaijan.

Turkey’s investment arm, the asset-backed development fund has a portfolio of 30 companies in seven different sectors, according to its website.

Turkcell is the only Turkish firm listed on the New York Stock Exchange (NYSE). It has been listed on the exchange, as well as on the Borsa Istanbul, since July 2000.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com