U.S.-based financial management and advisory company Merrill Lynch has refused Turkish defense firm Aselsan’s request for it to advise and underwrite Aselsan’s second public offering, citing the missile deal inked by Turkey with a Chinese company currently under U.S. sanctions.
“If it is possible that you will work with the Chinese company, CPMIEC, we would not work with you,” said Merrill Lynch in a letter sent to Aselsan.
Western reactions appear to be increasing after Turkey’s selection of the Chinese firm to co-produce a long-range air and missile defense system. The U.S.-based Merrill Lynch cited the decision as a reason in itself to deny Aselsan’s request to work with it in Aselsan’s second public offering. […]