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Bulgaria: Competition authority issues largest-ever fine at Hyundai dealers

By  |  November 9, 2012
Bulgaria: Competition authority issues largest-ever fine at Hyundai dealers

Five Hyundai dealers in Bulgaria have been fined a record 16 million leva (more than 8 million euro) by the Commission for Production of Competition for limiting competition. The CPC’s fine is the biggest issued in its history. The fine goes to five dealers under Industrial Commerce, the official distributor for Hyundai, for signing contracts to limit competition between the dealers and other car service companies. The competition authority said in a report that the violations have occurred for so long that the felt obligated to levy every fine applicable under law at the maximum amount allowable. Industrial Commerce has shot back at the allegations, arguing that while the clauses that violated antitrust law in contracts did exist, they were never implemented.

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    Full Content: The Sofia Globe

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