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Portugal: Banks probed for collusion, though details scarce

By  |  March 6, 2013

While details are scarce, reports say that Portugal’s antitrust authority, AdC, began probing several of the nation’s banks for unspecified breaches of competition law by colluding to exchange market-sensitive information. The banks were not named by the authority, however, and media efforts to contact banks went unanswered. The Portuguese Banking Association, however, said in a statement it was “surprised” at the news and defended the banking market as one with stiff competition and transparent pricing policies.

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