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Chile: Regulator accuses Wal-Mart, Cencosud of price-fixing

By  |  January 6, 2016

Chile’s competition regulator FNE accused supermarket chains Cencosud and SMU, and the local unit of Wal-Mart Stores Inc. of participating in a price-fixing scheme involving fresh chicken.

Chilean authorities said they would seek to fine each company $22.9 million for their alleged participation in the scheme. The FNE has accused the supermarket chains of  having fixed, through their suppliers, a minimum price for fresh chicken, and having ”knowingly adhered to a common scheme that replaced the risks of competition with shared practical cooperation in order to regulate the market and avoid price wars.”

The supermarket chains had no immediate comments on the announcement. At the end of 2011, Cencosud, SMU and Wal-Mart had a 92.5 percent market share of Chile’s supermarket sector.

Full content: Reuters

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