Twitter owner Elon Musk will be fined for taking over the social media platform without asking Turkey’s competition watchdog for permission, officials said.
The billionaire will be ordered to pay 0.1% of Twitter’s gross revenues in Turkey in 2022, the country’s competition board said on Monday without giving a figure.
Musk, who bought Twitter for $44 billion US dollars (£36.55 billion) in October, will be able to challenge the decision in an administrative court in the Turkish capital of Ankara within 60 days of getting a formal notification, the board said.
The decision, made public on Monday, was “unanimously” reached on March 2, according to a statement from the board, which is tasked with ensuring fair competition in the country.
Twitter did not immediately respond to a request for comment.