Turkey’s antitrust authority opened an investigation into Diageo Plc’s Mey Icki unit amid allegations that the raki maker abused its market dominance in the country.
Preliminary findings submitted to the Ankara-based competition board were deemed to be “serious and adequate,” justifying a probe, the regulator said on its website Tuesday. A representative for Diageo said Mey Icki will review the issues raised and respond within a required time limit.
The $2.1 billion acquisition of Mey Icki in 2011 has already presented challenges for Diageo. Two years after the deal, Turkey’s government enforced a law forbidding advertisements and restricting sales of alcohol. The U.K. company has also encountered difficulties in developing countries including China and India.
Full content: Bloomberg
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