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COMPETITION LAW 145
Compliance with EU Regulations and Harmonization. The
Communiqué on Mergers and Acquisitions No. 2010/48 (“Communiqué
No. 2010/4”), which requires the Permission of the Competition Board,
entered into force on 01.01.2011 and complies with European Union
regulations by abandoning the market share and turnover threshold system
and adopting the turnover threshold system. Such compliance should also
be ensured in the privatization area, thus Communiqué No. 1998/4 based
on both turnover and a market share threshold was amended.
Why a Special Communiqué?
Acquisitions regulated under Communiqué No. 2013/2 are related
to the transfer of public undertakings, or some of their parts, to a private
undertaking. Public undertakings, by comparison to private undertakings,
form legal and/or natural monopolies and have some privileges9. In light
of the foregoing, acquisitions through privatization significantly differ
from general mergers and acquisitions.
In order to make up the differences, Communiqué No. 2013/2, unlike
Communiqué No. 2010/4, foresees different thresholds and a two-stage
notification system, as explained in detail below.
Evaluation of the New Communiqué
The most important issues covered in Communiqué No. 2013/2 are
related to the scope of privatization and the notification procedure.
Scope of the Communiqué
Acquisition of all or part of a company’s interests or other rights and
instruments of an undertaking in such a way as to change control over
the undertaking or to affect its decision-making bodies, or full or partial
acquisition via privatization of units intended for the production of goods
and services fall within the scope of Communiqué No. 2013/2.
8 To consult Communiqué No. 2010/4, see the following link:
%2F2010_4ing.pdf (accessed on: 03.06.2013).
9 See. TEMEL, p. 46.