Tesco's Price-Fix Fine Cut To £6.5M After Deal With OFT

Law360, New York (February 27, 2013, 1:34 PM EST) -- A U.K. antitrust court on Tuesday signed off on a deal between the Office of Fair Trading and Tesco Plc, reducing the retail giant's fine to £6.5 million ($9.85 million), down from £10.43 million, for its role in an alleged scheme to coordinate price increases for cheese.

After Tesco appealed the initial fine, it reached a settlement agreement with the OFT, and the Competition Appeal Tribunal issued a consent order disposing of any outstanding issues and dismissing the case.

The OFT pointed out that the tribunal...
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