Mexico’s Federal Economic Competition Commision (COFECE) has launched an investigation into possible monopolistic practices in the market for the sale and development of digital goods and services, related services and other activities identified in the respective legislation pertaining to economy competition.
COFECE, Mexico’s antitrust watchdog, has notified the public of the current inquiry in which allegedly monopolistic practices will be examined in accordance to the respect of the federal competition law.
The investigation, which begins today and lasts for at least 30 working days, may be extended up to 120 days. The directorate general of market investigations has been called to oversee the research.
According to COFECE, the process is in no way to be seen as a preliminary responsibility levied on any of the parties partaking in economic activities in the relevant market.
In a statement, Enrique Peña Nieto, President of Mexico said: “We are committed to ensuring the fair competition between participants in markets and that competition law is respected and followed. Our actions today will help to root out fraud and corruption and will ensure the Mexican digital economy can be relied upon to serve consumers in the best possible manner.”
Maria Jose Pérez, Director general of the Federal Economic Competition Commission also reaffirmed the need for a balanced market: “We are working to protect the rights of all participants in the market, to ensure the fair and equitable functioning of commerce and to prevent any practices that may hinder, damage or limit competition”.
The investigation is in line with Mexico’s commitment to ensure fair competition in the digital marketplace, and to root out any monopolistic practices that could impact consumers negatively. The results of the investigation will be shared with the public after the conclusion of the inquiry.