Lone Pine buys 8.7 pct of Turkey's Dogan Yayin

A statement to the stock market gave no further details, but it follows an announcement in January that the fund had bought a 5 percent stake in Turkey's Garanti Bank (GARAN.IS: Quote, Profile , Research).

Dogan Yayin, part of the Dogan Holding (DOHOL.IS: Quote, Profile , Research) conglomerate, is Turkey's leading media group, with a 40 percent share of the advertising market. Its portfolio includes popular newspaper Hurriyet and broadcaster CNN Turk.