Mexico's Antitrust Agency Looks into Allegations of Price Fixing at Wal-Mart de Mexico
MEXICO CITY - Mexico's antitrust agency is considering an investigation of the country's leading mass merchandiser, Wal-Mart de Mexico SA, to determine whether the firm used its market power to squeeze suppliers, The Associated Press reports.
Wal-Mart de Mexico, better known as Walmex, is the largest Wal-Mart unit outside the United States and has about a 50 percent share of Mexico's supermarket sales volume, according to the AP.
The Federal Competition Commission, or CFC, is studying the case to decide whether there are grounds for a formal investigation into possible monopolistic practices.
Walmex Vice President for public relations, Mercedes Aragones, said the company has had no information from the CFC on the matter.
"We're puzzled because we have healthy market practices with all our suppliers," Aragones said in a telephone interview, adding that obtaining the lowest prices to pass on to consumers is part of the company's way of doing business.
She said Walmex is unaware which suppliers may have filed complaints.
Wal-Mart de Mexico, better known as Walmex, is the largest Wal-Mart unit outside the United States and has about a 50 percent share of Mexico's supermarket sales volume, according to the AP.
The Federal Competition Commission, or CFC, is studying the case to decide whether there are grounds for a formal investigation into possible monopolistic practices.
Walmex Vice President for public relations, Mercedes Aragones, said the company has had no information from the CFC on the matter.
"We're puzzled because we have healthy market practices with all our suppliers," Aragones said in a telephone interview, adding that obtaining the lowest prices to pass on to consumers is part of the company's way of doing business.
She said Walmex is unaware which suppliers may have filed complaints.