The Turkish Competition Authority fines a tech entrepreneur for failure to notify the acquisition of a major social media company (Elon Musk / Twitter)

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Turkish Competition Authority, Elon Musk / Twitter, Press release, 6 March 2023

The Turkish Competition Authority Fines Elon Musk due to Failure to Notify the Twitter Deal* On 06.03.2023, the Turkish Competition Authority ('TCA”) announced its decision to fine Elon Musk due to failure to notify the $44 billion deal to acquire Twitter. The TCA’s reasoned decision is not available for the time being but English version of the TCA’s announcement in terms of the fining decision reads as following: “Result of the examination in relation Elon R. MUSK’s Takeover of Sole Control of Twitter Inc. (6.3.2023) As a result of ex officio examination of the transaction for the acquisition of sole control of Twitter Inc. by Elon R. MUSK in accordance with Article 11 of the Law on the Protection of Competition No. 4054, it was unanimously decided during the meeting of the

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