Shares in India`s United Breweries fell as much as 3% on Friday, October 12, a day after Reuters reported the brewer and two of its global rivals had been raided in India as part of an ongoing investigation into price-fixing allegations.
Reuters reported on Thursday that the Competition Commission of India (CCI) conducted search and seizure operations at the offices of India`s United Breweries (UB), Denmark`s Carlsberg, and the world`s largest brewer Anheuser-Busch InBev (AB InBev) in at least two Indian cities.
Investors and analysts said shares in UB, which is known for its Kingfisher brand, were hit by fears that the CCI raids could result in penalties and potentially dent profits down the road.
“This is a highly regulated market and these are global players. So, allegations of price-fixing are extremely worrying for us,” said the head of a fund that owns shares in UB, who asked not to be named due to company policies.
Featured News
DOJ Antitrust Chief Gail Slater Assembles Veteran Team for Key Cases
Mar 16, 2025 by
CPI
UK Demands Access to Apple’s Encrypted Cloud Data, Spark Legal and Privacy Battle
Mar 16, 2025 by
CPI
Turkey Probes Netflix, Disney+, and Amazon Over Anti-Competitive Practices
Mar 16, 2025 by
CPI
Elon Musk and OpenAI Agree to Accelerate Trial Amidst Legal Battle Over AI’s For-Profit Shift
Mar 16, 2025 by
CPI
AI in Markets: A Double-Edged Sword for Competition, Says CCI Chief
Mar 16, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Self-Preferencing
Feb 26, 2025 by
CPI
Platform Self-Preferencing: Focusing the Policy Debate
Feb 26, 2025 by
Michael Katz
Weaponized Opacity: Self-Preferencing in Digital Audience Measurement
Feb 26, 2025 by
Thomas Hoppner & Philipp Westerhoff
Self-Preferencing: An Economic Literature-Based Assessment Advocating a Case-By-Case Approach and Compliance Requirements
Feb 26, 2025 by
Patrice Bougette & Frederic Marty
Self-Preferencing in Adjacent Markets
Feb 26, 2025 by
Muxin Li