Three-minute recap: Recent developments in Turkish competition law, January 2020

February 2020 – The new year started quite busily on the competition front in Turkey. The Turkish Competition Authority (“TCA”) concluded several investigations in January, including in the insurance and cargo sectors, and imposed administrative monetary fines on numerous companies. Another important development in the first month of 2020 was that the TCA initiated a sector inquiry into digital markets. Below is a brief recap. Digital markets sector inquiry In January the TCA initiated...

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Turkish Competition Authority publishes 2019 Merger Control Overview

January 2020 – The Turkish Competition Authority (“TCA”) has published its Report on the Review of Mergers and Acquisitions for 2019 (“Report”). The Report provides general information on M&A transactions in Turkey in 2019 as well as brief statistical information on merger control filings. Below is a summary of the Report’s main findings: In 2019 the  Turkish Competition Board decided on  208 merger control filings. Among these transactions, 38 were concluded among Turkish...

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Personal data breach notifications can now be made online

January 2020 –  Pursuant to Article 12 of the Turkish Personal Data Protection Law No. 6698, “In case the processed data is collected by third parties through unlawful methods, the data controller shall notify the data subject and the Board within the shortest time.” In early 2019, the Turkish Personal Data Protection Board (the “Board”) published decision no. 2019/10 of 24 January 2019 on its official website in order to set out the main principles and procedures for such notifications...

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Obstruction of competition law investigations: Don’t keep the Turkish Competition Authority waiting

December 2019 – It is a rare occasion, though increasing somewhat in frequency, for competition law to be a hot topic in Turkey’s mainstream press. One example is the recent dispute between Google and the Turkish Competition Authority (TCA). On 7 November 2019, the TCA imposed a daily 0.5% fine on Google’s Turkish turnover for not complying with the obligations set forth in the Turkish Android case that was decided on 19 September 2018. Subsequently there was news about Google ceasing to...

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Turkish Competition Authority’s approach against SMEs: the case of the egg producers

November 2020 – Turkish Law No. 4054 on the Protection of Competition (“Law No. 4054”) does not include a de minimis exception, and therefore any action, no matter its impact, that violates competition under Law No. 4054 is punishable. However, there are several precedents where the Turkish Competition Authority (“TCA”) has adopted a less stringent approach for small and medium-sized enterprises (SMEs), even for conduct that could be interpreted as infringing serious...

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Turkey to put a 7.5% tax on digital services: What is the scope of the new proposal?

What is the purpose of the Digital Tax? The preamble to the Draft Law states that its main target is global tech-companies, digital platforms and content providers that do not have a physical presence (such as a subsidiary) in Turkey. Currently international digital services companies can provide services online and generate revenues remotely without paying any tax in Turkey. Thus, the Draft Law’s main aim is taxing the revenues of global digital service providers from digital services...

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Under the microscope: How the Turkish Competition Authority finds out about unnotified transactions

October 2019 – Similar to many other European jurisdictions, the Turkish merger control regime requires that mergers and acquisitions that exceed certain jurisdictional thresholds are notified. Failure to notify a notifiable transaction may not only result in administrative monetary fines but risks invalidity of the transaction itself under Article 7 of the Law. 4054 on Protection of Competition (“the Law No. 4054”). However, there is always a question of how a competition authority actually...

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Executive liability for M&A transactions in Turkey

July 2019 – An overview of the standard of liability of board members and executives in connection with M&A transactions in Turkey. Standard of liability General standard What is the standard for determining whether a board member or executive may be held liable to shareholders in connection with an M&A transaction? As we explained above, the liability of directors are subject to the business judgement rule that enables directors to make commercial decisions without being...

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A structured guide to M&A litigation in Turkey

June 2019 – A structured guide to M&A litigation in Turkey.  Types of shareholders’ claims Main claims Identify the main claims shareholders in your jurisdiction may assert against corporations, officers and directors in connection with M&A transactions. The principal contractual documents in relation to M&A transactions are the share purchase agreement executed between the seller and purchaser in respect of the sale of shares in a target entity, and the shareholders’...

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New financial assistance prohibition under the new Turkish commercial code – from no plating to gold plating

April 2019 – The new Turkish Commercial Code, which comes largely into effect on 1 July 2012, introduces for the first time into Turkish company law a financial assistance prohibition in the context of share acquisitions. This will prohibit a company from providing financial assistance to a third party for the purpose of enabling the third party to acquire shares in the company. This prohibition is likely to introduce a great deal of uncertainty and risk in the context of share acquisitions...

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