French antitrust body Autorite de la Concurrence on Wednesday, December 18, fined the main French meal voucher firms nearly €415 million (US$461.4 million) for preventing rivals from entering the market.
The companies targeted were Edenred France, Up, Natixis Intertitres, Sodexo Pass France, and La Centrale de Reglement des Titres (CRT), the association that handles reimbursement of meal vouchers for the companies.
The antitrust body stated the companies exchanged information about commercial strategy to keep out new market entrants.
Edenred, Sodexo, and Natixis stated they will appeal the decision, reported the New York Times. Natixis, which was fined €83.32 million (US$92.6 million), denied all accusations of coordinating its business with its competitors.
Full Content: New York Times
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