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ARTICLE · 15 MARCH 2023

Elon Musk Reminded Of Competition Rules By The Turkish Competition Board

Gen Temizer Erdogan Girgin Attorney Partnership
Gen Temizer Erdogan Girgin Attorney Partnership
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Elon Musk made news globally when he made an offer to buy the social networking platform Twitter in 2022.

TurkeyAntitrust/Competition Law
Bulut Girgin
Bulut Girgin
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March 2023 – Elon Musk made news globally when he made an offer to buy the social networking platform Twitter in 2022. After months of back and forth and an overwhelming amount of news and critical analysis, Musk's acquisition of Twitter was completed in late October 2022 for a reported USD 44 billion.

This transaction, of course, affects the market in a variety of ways all over the world. One issue is how the various competition authorities will assess the transaction. The Turkish Competition Authority has given an indication, as it has just announced the Competition Board's decision regarding the acquisition.

In the brief announcement, the Authority noted that the Competition Board has authorised the transaction for the acquisition of sole control of Twitter by Elon Musk since it does not significantly impede effective competition. However, the Board has also imposed an administrative fine, as the transaction was carried out without the authorisation of the

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