Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Walmart Chile facing supplier suit over allegations it abused market dominance

10/29/2020 | 09:19am EST
FILE PHOTO: The supermarket Lider of the retailer Walmart is seen in Santiago

SANTIAGO (Reuters) - An association of Chilean food suppliers has sued the local unit of U.S. retail giant Walmart Inc, alleging that the store owner abused its dominant position in the market to impose contracts on providers and set arbitrary prices.

The suit, dated Oct. 22 but recently uploaded on the website of Chile's antitrust court, said the AGIP supplier union had made the allegations against Walmart, which operates Líder, Acuenta and Central Mayorista markets in Chile.

Walmart "exploited in an abusive manner its dominant position in the supermarket supply market, by imposing on its suppliers the contracting of certain services and establishing arbitrary values associated with them," the lawsuit said.

It added Walmart's actions had hurt free competition.

Walmart Chile said in a statement sent to Reuters on Thursday that it had not been informed of the lawsuit, adding it was always concerned about forging a "virtuous and long-term relationship" with suppliers.

"We believe that relations with our suppliers should be governed by the principles of respect for free competition, for which we work to establish transparent objectives, terms and conditions known in advance by both parties," it added.

The AGIP union, including names like Coca Cola, Nestlé, Unilever and Pepsico, asked the Tribunal for the Defense of Free Competition (TDLC) to give suppliers the right to choose between their own replacement services and that of the supermarket.

AGIP also said that Walmart had failed to comply with two conciliations approved by the antitrust body and requested a fine equivalent to about $12 million.

By Fabian Cambero


© Reuters 2020
Latest news "Economy & Forex"
03:35aCOVID : England's deputy chief medical officer van-tam says other countries' medical regulators are very close behind uk
RE
03:33aIrish foreign minister sees 'good chance' of Brexit deal within days
RE
03:33aOil gains as OPEC+ resumes output cut extension talks after impasse
RE
03:23aNigeria oilfield sale to Eni, Shell was legally 'perfect', says ex-oil minister lawyer
RE
03:12aIndonesia central bank to extend monetary stimulus as president seeks more help
RE
03:11aGood progress being made on Brexit trade deal, British minister says
RE
03:11aOil gains as OPEC+ resumes output cut extension talks after impasse
RE
03:10aOil gains as OPEC+ resumes output cut extension talks after impasse
RE
03:06aGrab tells staff it's 'in a position to acquire; after Gojek merger report
RE
03:06aSouth Africa's rand falls as virus fears weigh
RE
Latest news "Economy & Forex"