Temu’s office in Turkey was raided early on Wednesday by competition authorities, Reuters’ Helen Reid and Ezgi Erkoyun report. “We will cooperate fully with the Turkish authorities,” said a spokesperson for the company, which is owned by PDD. Laptops and computers were taken in the raid, the spokesperson added. Temu’s European headquarters in Dublin was previously raided over concern by European Union regulators about potential unfair Chinese state subsidies.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PDD:
- Midday Fly By: Netflix and Warner amend deal, GSK to acquire Rapt
- Why Temu-Owner PDD Stock Has Fallen for Six Straight Sessions
- Citi opens ‘downside 30-day catalyst watch’ on PDD Holdings
- China broadens probe into PDD Holdings after fights, Bloomberg reports
- PDD Holdings Slumps as Options Traders Battle Direction
