A PYMNTS Company

Peru: regulator probes toilet paper cartel, could fine Kimberly-Clark

By  |  December 15, 2015

Peru’s consumer regulator said Tuesday that it could sanction Kimberly-Clark Corp with a fine of up to 12 percent of its earnings after competitor CMPC reported the two toilet paper companies fixed prices for years.

The local subsidiaries of the two companies, which together control 88 percent of the toilet and tissue paper market in Peru, are under investigation for suspected price collusion in the South American country between 2005 and 2014, said regulator Indecopi.

The case follows a similar one in neighboring Chile, where CMPC and a subsidiary of Swedish-owned SCA were found by antitrust authorities in October to have colluded for at least a decade in Chile’s tissue paper market.

Full content: Reuters

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