UK Supermarkets Fined £49.5M Over Price-Fixing

Law360, New York (August 10, 2011, 8:44 PM EDT) -- Britain's competition regulator slapped U.K. supermarket giants Tesco, Sainsbury's and others with £49.51 million in fines on Wednesday, following an investigation into an alleged scheme to coordinate price increases.

The U.K. Office of Fair Trading said four supermarkets and five dairy processors — Arla Foods, Asda Stores Ltd., the Cheese Co., Dairy Crest Group PLC, Lactalis McLelland Ltd., Safeway PLC, Sainsbury's Supermarkets Ltd., Tesco PLC and Robert Wiseman Dairies — violated the Competition Act 1998 by coordinating price increases on certain dairy products in 2002 and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.