WOOD Flash – Turkish food retail: severe penalties announced by the Competition Authority
On Friday (29 October), the Turkish Competition Authority announced that, following the official hearings on 27 October, it has imposed fines on food retailers ranging from 2.5% of the market cap for BIM, to 5.7% for SOK and 8.2% for Migros. While the market was closed on 29 October, we expect a major negative reaction today (1 November), when it resumes trading.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
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