Price fixing hangover for Heineken
April 18, 2007 2:50 PM
Commenting on the European Commission's fixture of fines on a Dutch beer cartel that includes Heineken and Grolsch, Sharon Bowles MEP, Liberal Democrat Competition Spokesperson, said:
"The crackdown on cartels from the Competition Commissioner continues. Conspiracy with prices harms both the market and the consumer. The Commission has a strong armoury for tackling cartels, especially those such as these that are pan-European. It is also a justification for the leniency program that encourages firms to own up.
"This decision has come less than two months after the biggest ever cartel fine was announced by Commissioner Kroes. Fines imposed by the Commission in just the first quarter of this year have amounted to €1,743,024,700! That is only just under the total amount for 2006 and I expect more to come. This is a strong deterrent to new cartels and meanwhile established ones are being found out."
ENDS
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