Pick slapped with fine for price-fixing
Hungarian meat processing company Pick Szeged was fined HUF 44 million by the Hungarian Competition Authority (GVH), on charges of influencing the pricing of its products among wholesalers and retailers, Hungarian news agency MTI reported today.
According to the authority, the company pressured sellers to set a fixed minimum price for its products as part of its marketing strategy to enhance the image of its products compared to those of its competitors, MTI reported. The GVH said retailers and wholesalers were also interested in ensuring there would be no competitors undercutting their prices to customers, the news agency added.
The authority noted that price fixing is a serious breach of regulations. The authority considered Pickʼs position as a market leader an aggravating factor, although it also accepted as a mitigating factor that Pick had fully admitted to breaching the rules.
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