Two Forestry companies colluded for more than a decade to control the prices of toilet paper and other products following a meeting at a golf course to end a price war, according to Chile’s competitive practices regulator.
Economy Minister Luis Felipe Cespedes said Thursday that the collusion between the market’s biggest players was outrageous and affected the poorest Chileans the most.
Chilean President Michelle Bachelet called the alleged collusion by companies that control 90 per cent of the toilet paper market “extremely serious.”
The regulator said Wednesday that an antitrust court accepted its filing accusing the companies of colluding to control prices of toilet paper, napkins, absorbent towels and other products from 2000 to 2011.
“It’s one of the biggest collusion cases ever uncovered in the country,” the agency said in a statement, adding that the companies have combined annual sales of about $565 million.
Full content: Washington’s Top News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ADM CFO Resigns Amidst DOJ Investigation into Accounting Issues
Apr 23, 2024 by
CPI
FTC Throws the Bag: Tapestry’s Capri Deal Blocked Over Market Monopoly Concerns
Apr 22, 2024 by
CPI
Italy’s Antitrust Authority Investigates Enel’s Communication of Energy Price Hikes
Apr 22, 2024 by
CPI
UK Data Regulator Uncovers Flaws in Google’s Privacy Sandbox Proposal
Apr 22, 2024 by
CPI
Japan’s Antitrust Body Orders Google to Amend Ad Search Practices
Apr 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI