Turkiye: Implemented Communiqué Concerning Mergers and Acquisitions Requiring the Approval of the Turkish Competition Board (No. 2022/2)

On 4 May 2022, the Communiqué Concerning Mergers and Acquisitions Requiring the Approval of the Turkish Competition Board (No. 2022/2) is implemented and takes effect. The Communiqué 2022/2 amends its predecessor No. 2010/4 by targeting large technology companies. These include digital platforms, software and gaming companies, as well as companies operating in the area of financial technologies or health technologies. To be covered by the new merger control regime, the companies also have to operate or conduct research and development in Turkiye or, alternatively, provide services for users in Turkiye. For the acquisitions of such covered entities, the usual notification threshold of TRY 250 million annual turnover does not apply. That means that any acquisition of covered entities brings an obligation to notify the Turkish Competition Authority.