• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Mexico regulator rules Walmex used monopolistic practice, orders fine

by December 13, 2024
written by December 13, 2024

MEXICO CITY (Reuters) – Mexico’s antitrust watchdog Cofece ruled that Walmex, the local unit of U.S.-based retail giant Walmart (NYSE:WMT) , engaged in a monopolistic practice related to its suppliers, the company said in a statement on Friday.

Walmex noted it has been ordered to pay a fine of just over 93 million pesos, or about $4.6 million, while stressing it believes the regulator’s analysis is incorrect and that it will appeal its ruling.

“Walmex is disappointed by this decision but will comply with Cofece’s resolution while challenging the decision,” the company said.

The Cofece resolution follows an investigation into Mexico’s top retailer, which also operates stores in Central America, that lasted just over four years.

Cofece had accused Walmex of imposing prices and terms on its suppliers or distributors, in a case that centered on a lack of competition in the retail sector in many parts of Mexico.

In its statement, Walmex said the regulator acknowledged that the retailer can continue negotiating payments to its suppliers, except for two specific cases among the four originally investigated.

Walmex added that it does not believe the ruling will ultimately impact its operations.

($1 = 20.2422 Mexican pesos)

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Greece to buy artillery systems from Israel and drones from US, officials say
next post
Top liquor distributor favored Costco and Kroger over small businesses, FTC says

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Japan warns against ‘one-sided’ currency moves as yen slides
    • Corporate earnings ahead, Fed officials on rate cuts pace – what’s moving markets

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy