10.03.2025 11:10
The Competition Authority has launched two new investigations into Turkey's famous supermarket chains, including Migros, BİM, and Şok. In a statement made to the Public Disclosure Platform (KAP) by the companies, it was noted that the investigation does not imply any legal violations, while declines were observed in their stock prices.
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BİM, one of the largest supermarket chains in Turkey, faced a historic fine last February.
A 1.3 BILLION TL ADMINISTRATIVE FINE WAS IMPOSED
The Competition Authority imposed an administrative fine of 1.3 billion Turkish lira on BİM, citing that it obstructed the on-site inspection by the institution's experts, while the company stated that they found the fine 'unlawful and unjust' and filed an objection.
A KAP STATEMENT HAS BEEN RELEASED
While the outcome of the objection application is eagerly awaited, it has been learned that the Competition Authority has initiated two new investigations against several supermarket chains, including BİM.
"DEVELOPMENTS REGARDING THE ISSUE WILL BE SHARED WITH THE PUBLIC"
In a statement made by BİM to the Public Disclosure Platform (KAP), it was stated; "It has been reported to us that the Competition Authority has opened two investigations against various retail companies and suppliers, including our Company."
The initiation of an investigation by the Competition Authority cannot be interpreted as the investigated enterprises having violated the law or being subject to criminal sanctions, and developments regarding the issue will be shared with the public in accordance with capital market legislation."
SHARES FELL AFTER THE NEWS
On the other hand, after the two new investigations opened against BİM, shares are trending negatively. Following the news release, BİM shares, which have been on a downward trend, are currently trading at 530.50 TL, down 4.33% compared to Friday, and are now trading at 540 TL, down 2.34%.
AN INVESTIGATION HAS ALSO BEEN INITIATED AGAINST MIGROS
Migros Ticaret A.Ş. announced that the Competition Authority has opened an investigation against some retail companies and suppliers. In a statement from the company, it was noted that the notifications of the investigation had reached them, emphasizing that this does not mean a violation of the law.
Migros officials stated that they will closely monitor the process and share developments with the public. However, no official statement has yet been made regarding the details of the Competition Authority's investigation.
AN INVESTIGATION HAS BEEN OPENED AGAINST ŞOK MARKET AS WELL
In a statement made by Şok to KAP, it was stated that two new investigations have been opened against retail companies, including themselves, and suppliers.
In a statement from Şok Marketler (SOKM), it was stated, "The Competition Authority has informed us that it has decided to open two investigations against various enterprises and suppliers operating in the food retail sector, including our company."
The company stated to the Public Disclosure Platform (KAP): "It has been reported to us that the Competition Authority has decided to open two investigations against various enterprises and suppliers operating in the food retail sector, including our company, to determine whether Article 4 of the Law No. 4054 on the Protection of Competition ("Law") has been violated."
The initiation of an investigation by the Competition Authority at this stage cannot be interpreted as the investigated enterprises having violated the Law or being subject to criminal sanctions under the Law, and developments regarding the issue will be fully and timely shared with the public in accordance with capital market legislation."
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