Turkey's first and largest shared scooter brand "Martı" has been put under investigation by the Competition Board of the Turkish State on suspicion of damaging competition.
Martı announced last week that it would open on the NYSE New York Stock Exchange.
According to the announcement on the Competition Authority's website, the preliminary investigation conducted on the allegation that Martı İleri Teknoloji A.Ş. has a dominant position in the relevant product market and violates Articles 4 and 6 of the Law on the Protection of Competition by abusing its dominant position with its exclusionary actions on its competitors. It was decided by the board.
Discussing the information, documents and findings obtained in the preliminary research, the Board found the findings serious and sufficient and decided to open an investigation against Martı Ileri Teknoloji A.Ş. to determine whether it violated the relevant articles of the law.
Moreover, two months ago, in the statement made by the Minister of Commerce of Turkey, it was announced that the Martı brand allegedly brought the scooters by smuggling customs and an investigation was started on this.
For a brand that is on the verge of opening up to the world's largest stock market, it is a question mark what will these serious allegations bring and whether the New York Stock Exchange will accept the dubious brand.
📩 29/08/2022 21:36