Topline
Twitter was fined by Turkey’s antitrust regulator Monday for failing to seek its permission before Elon Musk’s $44 billion takeover.
Elon Musk’s $44 billion acquisition of Twitter was undertaken without seeking permission from the … [+]
Key Facts
Twitter was ordered to pay 0.1% of its 2022 gross income by Turkey’s Competition Authority.
Musk and Twitter violated Turkey’s competition rules by not seeking the agency’s permission, the regulator said, adding it ultimately allowed the acquisition as it doesn’t reduce competition.
Twitter has been given 60 days to appeal the decision.
The fine is Twitter’s latest run-in with authorities in Istanbul who had recently blocked the website for allowing the spread of “misinformation” following a devastating earthquake in the region
This is a developing story.
Source: https://www.forbes.com/sites/siladityaray/2023/03/06/twitter-fined-over-elon-musks-takeover-by-turkeys-antitrust-authorities/