Merger Control In Turkey

1 What is the merger/acquisition legislation?

Turkish regulatory framework for merger control consists of:

• Law No. 4054 on Protection of Competition ("Law"); and
• Communiqué No. 2010/4 on Mergers and Acquisitions Calling for the Authorization of the Competition Board ("Merger Communiqué").

2 Who is the relevant authority?

Turkish merger control regime is executed by the Turkish Competition Authority ("TCA") in Ankara, Turkey.

3 Are there any recent material changes?

Merger Communiqué has been amended by Communiqué No. 2017/2

• repealing Article 7(2) of the Merger Communiqué, which revoked TCA's obligation to review notification thresholds biannually;
• permitting ex post notification of transactions leading to transfer of control, if conducted on stock exchanges and involving multiple sellers (conditional on prompt notification and refrain from exercise of voting rights without Board granted exemption); and