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.
Full Content: The Sofia Globe
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI