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World News | Turkish regulator says it is fineing Musk over Twitter takeover

The LATAM Airlines plane hit the vehicle on the runway (Image: Twitter / @AirCrash_)

ANKARA, March 6 (AP) – Turkey’s competition watchdog said Monday it will fine Twitter owner Elon Musk for taking over the social media without first seeking the regulator’s permission. platform.

The billionaire will be required to pay 0.1 percent of Twitter’s total revenue in Turkey in 2022, Turkey’s Competition Commission said, without providing a figure for the fine.

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Musk will be able to challenge the decision in an administrative court in Ankara, the Turkish capital, within 60 days of receiving formal notification, the board said, which is tasked with ensuring fair competition in the country.

The decision was announced on Monday and passed “unanimously” on March 2, according to a statement from the board.

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In 2021, Turkey will force Twitter and other social media platforms to establish legal entities in the country.

Musk bought Twitter for $44 billion in late October.

Twitter did not immediately respond to a request for comment. (Associated Press)

(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)

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