Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Authorities launched a tax audit targeting Cengiz Holding, a prominent pro-government conglomerate, but the decision to move the case from Istanbul to Ankara has raised questions. The group is also facing fierce environmental backlash over its partnership in the COP31 climate summit.
Conglomerates Vestel Elektronik and Anadolu Group are in advanced negotiations to sell their stakes in Turkey’s first domestic electric vehicle manufacturer TOGG.
Ten years after the failed coup, the crackdown on Gülenist-owned businesses has become a revenue stream: the state has collected $1.5 billion from selling off seized firms — and the state fund managing them has grown into one of the country's largest conglomerates, its reach now extending far beyond the Gülenists.
Everything was going smoothly, as it had for a hundred years. Koç Holding, Turkey's largest industrial conglomerate, was marking its centennial.
After the seizure of Can Holding Media Group, one of Turkey’s largest conventional media conglomerates, Kenan Tekdağ, chair of the Board of Directors, was detained in hospital, then placed under house arrest and banned from leaving the country.