Turkish competition board says fines Elon Musk over Twitter takeover

Turkey is fining Elon Musk over the billionaire’s takeover of Twitter without seeking permission from the country’s competition watchdog, Fox Business reports.

The Turkish Competition Board said the billionaire would be required to pay 0.1% of Twitter’s gross revenues in Turkey in 2022, without providing a figure for the fine.

Musk would be able to challenge the decision at an administrative court in the Turkish capital of Ankara within 60 days of receipt of a formal notification, said the board.

The decision, made public on Monday, was reached “unanimously” during a meeting of the Competition Board on March 2. 

In 2021, Turkey forced Twitter and other social media platforms to form legal entities inside the country.

The board’s fine comes as the Federal Trade Commission is investigating Musk’s mass layoffs at Twitter and seeking his communication as part of ongoing oversight into the social media company’s privacy and cybersecurity practices. 

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