By Yeliz Candemir

ISTANBUL--Turkey's Yapi ve Kredi Bankasi (YKBNK.IS), or Yapi Kredi, said Tuesday that talks on the sale of its insurance unit Yapi Kredi Sigorta (YKSGR.IS) are continuing and a deal had yet to be signed.

Yapi Kredi issued the statement to the Istanbul Stock Exchange after Reuters on Monday cited sources as saying Allianz SE (ALV.XE) had agreed to buy Yapi Kredi Sigorta for nearly EUR950 million.

At 0900 GMT, after Yapi Kredi's statement, Yapi Kredi Sigorta's shares were up 1.2% at TRY21.85. The broader Istanbul market was up 0.35%.

Write to Yeliz Candemir at yeliz.candemir@dowjones.com

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