Carrefour fined for unfairly squeezing suppliers on price
Money & Careers
By
Reuters
| Mar 12, 2021
French retailer Carrefour has been fined Sh228million (1.75 million euros) for unfairly pressing suppliers for discounts during annual contract negotiations, the finance ministry said in Friday.
The ruling by the Paris Commerce Court follows a probe by anti-trust authorities into Carrefour’s practices during its 2016 negotiations with suppliers, the statement said.
The investigation found that Carrefour had forced suppliers to give discounts as a pre-condition to entering annual price negotiations.
The court ordered Carrefour to stop what it called “practices that restrict competition” and requested the provisional execution of the fine.
Carrefour said it had put an end to the incriminated practices since February 2016 and would not appeal.
READ MORE
From Boeing cockpit to truck seat: Building Africa's logistics backbone
France says G7 finance talks 'frank, sometimes difficult'
Africa banks on continental trade agreement to rev up investments
How 300 containers were stolen from Mombasa port
800 youth benefit from 'Glam on Wheels' Initiative
Flower industry loses Sh200m as transport strike hits JKIA cargo
Families feel the pinch as war-hit diaspora remittances shrink
Legal battle brews over new tea levy, directorship
For Africa to move forward, Africans must be allowed to cross borders
Global housing crisis deepens despite policy gains - UN warns
“The court did not reject the principle of seeking a discount but considered the discount was not sufficiently justified in its application,” a Carrefour spokeswoman said.