Turkiye: Issued Turkish Competition Authority decision in investigation of Elon Musk’s takeover of Twitter

On 2 March 2023, the Turkish Competition Authority adopted a decision fining Twitter for breach of Turkish Competition Law by failing to request authorisation before Elon Musk completed Twitter's acquisition. The Authority has issued a fine on Twitter of 0.1% of its 2022 gross income, and the company has been given 60 days to appeal the decision. The Authority has allowed the transaction after finding that the acquisition does not have a negative impact on competition in the Turkish market.