Turkish supermarkets under investigation by competition authority

The Turkish Competition Authority (Rekabet Kurumu) launched investigations into several major supermarket chains, including BIM, Sok, and Migros. The companies involved clarified that the investigations do not suggest any legal violations, but stock prices of the companies have dropped in response.

Migros and Sok investigated

Migros confirmed it has also been targeted in the investigation, highlighting that it had received the official notifications. The company reassured the public that this does not imply any legal infractions.

Similarly, Sok Market confirmed it is part of the investigation, with the Competition Authority targeting various players in the food retail sector, including suppliers.

BIM issues statement

BIM announced via the Public Disclosure Platform that it, along with other retail companies and suppliers, is under investigation by the Competition Authority. The company stressed that the initiation of the investigation does not imply any law violations or penalties, and that any updates would be shared in accordance with capital market regulations.

Following the announcement, BIM’s stock experienced a decline. Initially down by 4.33%, it now stands at a 2.34% decrease, trading at 540 TL, compared to Friday’s close. SOK Marketler shares traded at 39.52 lira, down 2 percent. For Migros, the loss exceeded 4 percent and was priced at 533 liras.