Privatization may be defined as “anyprocess that decreases the public sector share in economic activities”[1]. Sententiously, privatization means the transfer of a public undertaking to the private sector. In such a case, the competitive environment in the relevant market may be affected, since public undertakings buttressed by the strength of government may create monopolies, and thus may significantly lessen competition by creating a dominant position in the relevant market.
In order to ensure competition in the relevant market, competition authorities regulate acquisitions through privatization. The Communiqué on the Procedures and Principles to be Pursued in Pre-Notifications and Authorization Applications to be Filed with the Competition Authority in order for Acquisitions via Privatization to Become Legally Valid No 1998/4[2] (“Communiqué No. 1998/4”) was the first regulation concerning privatization sector under Turkish law. This Communiqué was abrogated after remaining in force for fifteen years by the entry into force of the Communiqué on the Procedures and Principles to be Pursued in Pre-Notifications and Authorization Applications to be Filed with the Competition Authority in order for Acquisitions via Privatization to Become Legally Valid No 2013/2[3] (“Communiqué No. 2013/2”).
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