Turkish Competition Law Practitioners Welcome the Draft Communiqué on Mergers and Acquisitions

In November 2007, the Turkish Competition Authority (the "TCA") declared that a new communiqué on mergers and acquisitions was on its agenda. It took the Authority more than two years to publish the first draft of the communiqué (the "Draft Communiqué") on its official website. In February 2010, the TCA invited stakeholders to participate to the public consultation process. This article aims to provide an overview of the highlights of this long-awaited draft communiqué. The authors have worked on the version distributed in the meeting of the Competition Association on May 7, 2010.

Definition of a Concentration – Joint Ventures

The current Communiqué defines among concentrations the creation of joint ventures which perform as an autonomous economic entity possessing labor and assets to achieve their functions, and which do not have as their object or effect the restriction of competition between the undertakings party to the joint venture, or between these