Turkish anti-trust watchdog fines retailers, supplier total of $283 mln

Migros Ticaret AS

29/10/2021 08:34

ISTANBUL, Oct 29 (Reuters) - Turkey's Competition Board said
on Friday it has fined retailers BIM, Migros, CarrefourSA, Sok
Marketler and Yeni Magazacilik, as well as supplier Savola Gida
a total of 2.7 billion lira ($283 million) for violating
antitrust regulations.
    The Turkish anti-trust watchdog alleged that the companies
had coordinated prices of products directly or via suppliers in
a manner that was against the interests of consumers and had
entered into cartel-like agreements or coordinated actions.
    There was no indication in a statement from the board
detailing the fines whether the companies planned to appeal,
which they can do under Turkish competition law. There was no
comment included from any of the companies involved.
    BIM  BIMAS.IS  was fined 958.1 million lira, Migros
 MGROS.IS  517.7 million lira, CarrefourSA  CRFSA.IS  142.5
million lira and Sok Marketler  SOKM.IS  384.4 million lira, the
competition board said in a statement.
    Yeni Magazacilik and supplier Savola Gida were fined 646.6
million lira and 33.3 million lira respectively.
    The board said that the fines were determined according to
the revenues reported in the 2020 financial statements of the
six companies.
($1 = 9.5333 liras)  

 (Writing by Ezgi Erkoyun;
Editing by Alexander Smith)
 ((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters
Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))