The Turkish Competition Authority (Rekabet Kurulu) has approved the acquisition of 85% of the shares of TYG Turkey Elektronik Ticaret Hizmetleri ve Yatirimlari Anonim Sirketi (Trendyol GO) by Uber Technologies, Inc. The decision was announced on the official website of the Competition Authority.
According to the statement, the Board has decided to allow the transaction in which Uber will acquire the majority stake in Trendyol GO, a company operating in the grocery and food delivery sector through an e-commerce platform.
With this transaction, Uber—known globally for its food delivery service under the UberEats brand—is expected to begin operations in the grocery and food delivery market in Türkiye.
After reviewing the application submitted by Uber, the Competition Board concluded that the acquisition would not lead to the creation or strengthening of a dominant position, nor would it significantly reduce effective competition in any market for goods or services, either across the whole country or in a specific region. As a result, the transaction was approved.
Source: Bloomberght/ Prepared by: İlayda Gök