Greek dairy giants face huge fines
A Greek competition watchdog fined seven dairy firms a total EUR 48.3mn for alleged price-fixing.
Tuesday, 04.12.2007.
16:00
A Greek competition watchdog fined seven dairy firms a total EUR 48.3mn for alleged price-fixing. The Competition Commission said five of the companies agreed in 2004 to freeze prices paid to dairy producers, and some of the companies had exchanged pricing information and conspired to fix yoghurt prices. Greek dairy giants face huge fines The watchdog said the country's association of dairy companies had also breached competition regulations. It named the alleged offenders as Vivartia — Greece's largest food company — Mevgal, Fage, Nestle, Olymbos, Kri-Kri and Sergal. The action follows the arrest last year of a senior Competition Commission member for allegedly soliciting a €2.5 million bribe from a dairy company under investigation.
Greek dairy giants face huge fines
The watchdog said the country's association of dairy companies had also breached competition regulations.It named the alleged offenders as Vivartia — Greece's largest food company — Mevgal, Fage, Nestle, Olymbos, Kri-Kri and Sergal.
The action follows the arrest last year of a senior Competition Commission member for allegedly soliciting a €2.5 million bribe from a dairy company under investigation.
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