WELCOME TO CHARLES RUSSELL SPEECHLYS.
We would like to place strictly necessary cookies and performance cookies on your computer to improve our website service.
Otherwise, we'll assume you are OK to continue. Please close this message
The European Commission has fined two producers of canned mushrooms a total of €32.2 million for participating in an illegal price-fixing and customer allocation cartel. The companies engaged in confidential information exchange and customer allocation, set minimum prices and agreed on volume targets.
The cartelists received a 10% reduction in their fines under the settlement procedure, whilst a third participant received full immunity from fines under the Commission's Leniency Notice for having revealed the existence of the cartel. Proceedings against a fourth producer, Riberebro, continue.
The CMA has decided to refer the anticipated merger of Pure Gym Limited and The Gym Limited for a detailed Phase II merger inquiry due to concerns that the transaction would substantially lessen competition at a national level and in 14 local areas, and might also affect potential competition given that, absent the merger, the parties' expansion plans could have resulted in them competing in additional local areas.
The CMA did not consider that the undertakings in lieu offered by the parties were sufficient to resolve the competition concerns identified. This is the first time that the CMA has made such a merger reference and the statutory deadline for a final decision on the merger is 10 December 2014.
This article was written by Paul Stone and Elora Mukherjee.
For more information please contact Paul on +44 (0)20 7203 5110 or firstname.lastname@example.org.