Chile eyes harsher penalties after toilet paper collusion scandal
Chile eyes harsher penalties after toilet paper collusion scandal
| Mon Nov 2, 2015 12:22pm EST
SANTIAGO
Nov 2 Chilean government officials held an emergency meeting on Monday to discuss a crackdown on anti-competitive practices after regulators identified collusion in the market for toilet paper, tissues and other paper products.
Chile's competition regulator said last week that Chilean forestry company CMPC had colluded with PISA, purchased by Swedish-owned SCA in 2012, for at least a decade to control nearly 90 percent of the nation's toilet paper and tissue sales and kept prices higher.
SCA was slapped with a $15.5 million fine, while CMPC escaped punishment because it admitted wrongdoing in March.
But on Monday the government demanded the companies agree on a compensation plan for consumers, while ministers met to draft reforms that would include jail time and higher fines for collusion.
More:
http://www.reuters.com/article/2015/11/02/chile-toiletpaper-idUSL1N12X18W20151102?rpc=401