Chilean supermarkets fined $12 mln for chicken price-fixing

By Aislinn Laing

SANTIAGO, Feb 28 (Reuters) - Chilean supermarket chains Cencosud, SMU and the local unit of Walmart Inc were fined $12.1 million on Thursday for participating in a scheme to fix the price of fresh chicken, according to court documents.

The companies, which have a combined market share of more than 90 percent, said they would appeal to Chile's supreme court.

The TDLC fined Censosud $5.14 million, Wal-Mart Chile $4.1 million, and SMU$3 million.

Antitrust regulator the FNE brought the case in 2016 after Chilean paper manufacturer CMPC and a division of Sweden's SCA were fined and ordered to compensate consumers for colluding for a decade to fix toilet paper prices.

The FNE had called for fines of up to $22.9 million for each supermarket chain, while Chile'sChristian Democrat Party demanded jail time.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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