French supermarket groups Casino and Intermarche are being investigated under an...
FILE PHOTO: A logo of French retailer Casino is pictured outside a Casino supermarket in Nantes, France, July 20, 2017. REUTERS/Stephane Mahe/File Photo
The move, announced by the European Commission on Monday, followed dawn raids of the supermarkets in February and May this year. Casino’s shares fell on news of the EU investigation. Casino said it would defend itself. “The absence of any anti-competitive agreement, particularly on resale prices, was noted by the market as a whole and by consumers during the period of investigation,” a spokesman said.The Commission can fine companies up to 10 percent of their global revenue for breaching EU antitrust rules.
The Commission said it was concerned that Casino and Intermarche went beyond the purpose of their alliance and engaged in an anticompetitive conduct.
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