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Turkey’s competition board says fines Elon Musk over Twitter takeover

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The Turkish Competition Board said on Monday it had decided to fine billionaire Elon Musk 0.1 percent of Twitter’s gross income in Turkey in 2022, as his takeover of the company occurred without the board’s permission, Reuters reported.

The board said in a statement that the ruling would be open to a legal challenge.

Musk initiated an acquisition of the American social media company in April and concluded it in October.

Twitter, which is the subject of frequent restrictions in Turkey, is one of the social media companies that decided to appoint a legal representative to Turkey in 2021 to comply with a controversial internet law in the country.

Last week, Turkish authorities also fined social media platform TikTok 1.75 million lira ($93,000) for not taking sufficient measures to protect users from unlawful processing of their data.

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