Colombia: SIC investigates four companies for anticompetitive behavior

Colombia’s Superintendency of Industry and Commerce has filed charges against four major companies in the country, under suspicion of having engaged in uncompetitive activities. The companies involved are Procter & Gamble, Postobón, Equión Energía and Carbones del Cerrejón.

According to the SIC, these companies had offered to pay suppliers more quickly if they agreed to receive a lesser amount than what was owed. “If those providers wanted to be paid earlier, they offered an amount lower than the debt. For example, if a supplier owed 100 million pesos in a bill, one of these companies offered to pay, before 90 days, only 80 million pesos,” said Superintendent Pablo Robledo.

For the SIC, the practice undermines free competition. The companies for their part defended themselves and denied having engaged in such practices.

Full Content: Caracol TV

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