Saudi Arabia: Soda firms hit with price-fixing penalty

Several soft drink companies in Saudi Arabia have been fined for price manipulation and other anticompetitive business practices, reports say.

The nation’s Council of Competition Protection released a statement announcing the fines, issued for price-fixing, exclusive dealing, unfair contracts and other unfair tactics to strengthen its market share and profits.

The CCP also noted that the fines would be doubled if the companies repeated the offenses.

Reports did not specify which companies were fined.

Full content: Arab News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.