Turkey: TCA – Review Of The Acquisition Of Sole Control Of Twitter Inc. By Elon R. MUSK

The Turkish Competition Authority ex officio examined the transaction regarding the acquisition of sole control of Twitter Inc. by Elon R. MUSK pursuant to Article 11 of Act No. 4054. As a result of the examination, TCA decided that;

• The transaction is subject to authorization,
• The transaction can be authorized since there is no significant reduction in effective competition as a result of the transaction,
• Since the transaction subject to the file was carried out without the authorization of the Competition Authority, an administrative fine of one thousandth of the gross income generated in Turkey for the year 2022 shall be imposed on Elon R. MUSK, who is the transferee pursuant to Act No. 4054.

(TCA – 02.03.2023)

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