While details are scarce, reports say that Portugal’s antitrust authority, AdC, began probing several of the nation’s banks for unspecified breaches of competition law by colluding to exchange market-sensitive information. The banks were not named by the authority, however, and media efforts to contact banks went unanswered. The Portuguese Banking Association, however, said in a statement it was “surprised” at the news and defended the banking market as one with stiff competition and transparent pricing policies.
Full Content: Reuters
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