The Competition Authority has initiated a competition investigation into the retail sector. Companies such as BIM, Migros, Shock Markets, and Carrefoursa are among the companies under investigation. Following this development, sharp declines were observed in the shares of BIM, Shock, and Migros.

The Competition Authority has launched an investigation into various enterprises and suppliers in the food retail sector.

In a statement made to the Public Disclosure Platform (KAP) by BIM, it was stated, “It has been reported to us that two investigations have been initiated by the Competition Authority into various retail companies and suppliers, including our company.”

The statement also included the use of expressions such as, “The initiation of an investigation by the Competition Authority cannot be interpreted as the enterprises under investigation violating the rules, facing and staying punished with sanctions.”

The company announced that the developments will be disclosed to the public in compliance with the capital market regulations.

In statements made to the KAP by Shock, Migros, and Carrefoursa, it was mentioned that investigations had been initiated into some retailers, suppliers/producers, and enterprises, including their own companies.

SHARP DECLINES IN MARKET SHARES

Following the announcement, sharp declines were seen in the market shares. The BIST trade index saw a nearly 5% decline in trading.

BIM shares were traded at 530.50 lira, with a 4.33% decrease. Shock Markets shares changed hands at 39.52 lira, with a 2% decrease. In Migros, the loss exceeded 4% and was priced at 533 lira.

RECORD FINE IMPOSED

In the first week of March, the Competition Authority imposed a record fine of 1.3 billion lira on BIM.

The reason for the fine was explained to be the deletion of data from a work device by an executive employee.

BIM had appealed to the Competition Authority regarding this particular fine.