• May 26, 2024

Tobacco Firms Fined for ‘Distorting Competition’

 Tobacco Firms Fined for ‘Distorting Competition’
Photo: Eugene-Onischenko

The Dutch competition watchdog has fined Philip Morris (PM) Benelux, British American Tobacco (BAT), Japan Tobacco International (JTI) and Van Nelle Tabak a total of €82 million ($95.7 million) for “distorting competition,” according to Reuters.

BAT was fined €31.2 million, PM Benelux was fined €27.5 million, JTI was fined €13 million and Van Nelle Tabak was fined €10.4 million.

The Authority for Consumers and Markets claims the companies illegally exchanged future pricing plan information between 2008 and 2011 in order to adjust their own prices. The companies have all filed objections. Three of the companies went to court to attempt to stop the publication of the ACM’s decision, but the court denied that request.