Mexico Fines Maritime Transport Cos. $2.2M For Price-Fixing

By Kevin Penton (November 15, 2016, 6:22 PM EST) -- Mexico's competition watchdog on Monday announced it has fined three maritime transportation companies 45.2 million pesos ($2.2 million) for allegedly engaging in monopolistic practices in a passenger route in the province of Quintana Roo.

Golfo Transportacion, Naviera Ocean GM, Naviera Magna and three related officials violated the country's Federal Economic Competition Law by conspiring to coordinate fares and days of service on a route between Playa del Carmen and Cozumel, according to the announcement by the Federal Economic Competition Commission, or COFECE.

Conservative estimates by the commission of the economic impact from the actions of the companies and the three officials...

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