Walmart’s Mexico subsidiary plans to appeal a $4.6 million fine for alleged monopolistic practices
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 13/12/2024 (366 days ago), so information in it may no longer be current.
MEXICO CITY (AP) — Walmart’s Mexico subsidiary said Friday it plans to appeal a $4.6 million fine for alleged anti-competitive practices involving suppliers.
Walmart de Mexico said in a statement that it had talked with suppliers to see if there were any concerns. The agency that issued the fine, known as the Federal Competition Commission, expressed concerns about a “relative monopolistic practice.”
The commission, Mexico’s main anti-monopoly regulatory agency, is one of several independent agencies soon to be eliminated as part of what the government describes as a money-saving measure.
It apparently levied the fine after at least one rival store chain accused Walmart of using its substantial purchasing power to gain discounts that put other sellers at a disadvantage.
Walmart is by far the largest retail chain in Mexico. It called the decision “incorrect” and said it contained “errors in applying the law.” The company said it would abide by the agency’s ruling Thursday, but would appeal the decision.
Walmart’s shares rose about 7.5% on the Mexican stock exchange Friday.