France-based cement conglomerate Lafarge is defending itself against suspicions by the Competition Authority of Kenya that the company could be harming competition in the industry, insisting that it has done nothing wrong and vowing to work with regulators to improve the market.
Reports say Lafarge is under investigation by the Authority over its 59 percent stake in Bamburi cement and 42 percent stake in East Africa Portland Cement, respectively the nation’s largest and third-largest cement makers. Lafarge’s presence through its investments in the nation could potentially give the company too much sway over pricing, regulators are concerned.
But Bamburi has come to the defense of Lafarge, arguing that no one company holds dominance in the industry and therefore could not abuse its market position.
The Competition Authority first announced earlier this month that it may require Lafarge to force asset sales if it is found to hold a dominant grip in the nation’s cement industry.
The government is currently in debate with East Africa Portland shareholders over Lafarge’s interest in the company, reports say.
Full content: Business Report
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