IC-İçtaş, the firm that offered the second best bid for Trakya Elektrik, the electricity distributor in the Thrace region, was the only company to pay additional collateral of $11.5 million to extend its final payment for two more months by 5 p.m. on Oct. 31, the deadline for the payments.

The OİB had announced previously that it would extend the deadline for final payments until Dec. 31 if bidders paid the additional collateral.

Aksa Elektrik, the company that offered the second best bid for Boğaziçi Elektrik (BEDAŞ), which covers electricity distribution on Istanbul’s European side, said in a statement yesterday to the Istanbul Stock Exchange that it had decided not to pay additional temporary collateral of $55 million to extend the payment deadline.

MMEKA, a joint venture between Mehmet Emin Karamehmet and Mehmet Kazancı that was the top bidder for the electric distribution grids in Istanbul, also failed to make the final payments for the takeover.