Tesco has expressed "surprise and dismay" at an Office of Fair Trading (OFT) ruling that it must pay £10.43m for allegedly colluding with other retailers and suppliers to fix cheese prices in 2002 to 2003.
A long-running investigation into price fixing in the UK dairy market appears to have run its course as allegations are dropped and fines levied at leading processors and supermarkets are reduced.
UK competition authority, the Office of Fair Trading, says it will not be taking action against six Scotland-based dairy companies accused of engaging in price fixing.
Dairy group Lactalis McLelland will face a reduced financial
penalty from the Office of Fair Trading (OFT) after accepting
responsibility for its role in the alleged price fixing of
cheeses in the UK.
UK-retailer Morrisons has refused to confirm that it is seeking a
judicial review of an ongoing investigation by the UK's Office of
Fair Trading (OFT) into allegations of milk price fixing.
A number of UK-based retailers and dairy processors have admitted
involvement in alleged dairy price fixing for powdered milk, butter
and cheese, resulting in combined fines of about £116m (€161m).
European dairy giants Nestle and Vivartia are among a number of
companies facing fines imposed by the Greek competition authority
for allegedly fixing dairy prices in the country, press reports
have said.
The UK's major supermarkets and dairy processors allegedly cheated
consumers out of £270m (€389m) by colluding to
increase prices for dairy products, the competition
regulator claimed today.
Tetra Laval's anticipated acquisition of the cheese-making
equipment division of a UK-based firm will not be referred to the
Competition Commission (CC) after the Office of Fair Trading (OFT)
accepted proposals addressing competition...
Shares in dairy firm Robert Wiseman have struggled to recover in
recent days after Britain's competition watchdog accused the group
of fixing milk prices in Scotland.
In a major move that might help reduce the pricing power of the
UK's major supermarkets, the Office of Fair Trading (OFT) yesterday
said it would refer the issue to the Competition Commission (CC)
for more detailed examination.
UK food retailers have been split by the All Party Small Shops
Committee report calling for a new retail watchdog and a halt to
further mergers and acquisitions pending government guidelines.
The UK dairy industry has renewed its attack on the country's
competition watchdog, accusing it of unfairly targeting dairy
business deals and endangering the sector's growth.
British dairy representatives will meet with the Office of Fair
Trading to try and solve their differences, as one official admits
retail price initiatives are a no-go.
Britain's Office of Fair Trading is investigating allegations of
price-fixing by top dairy processors as the government agency draws
increasing criticism from the industry.
It was wrong and unhelpful to the future of Britain's dairy
industry for the Office of Fair Trading to intervene in Robert
Wiseman's bid for Scottish Milk Dairies, says the National Farmers'
Union.
Britain's 'big four' supermarket chains may face pressure as the
Office of Fair Trading (OFT) withdraws its previous ruling
protecting the grocery sector from investigation by the Competition
Commission (CC).
The threat of a Competition Commission inquiry has made Robert
Wiseman pull out of a deal to buy Scottish Milk Dairies, as the
dairy consolidation trend puts competition in the spotlight.
Arla UK claimed a moral victory in its long dispute with rival
Robert Wiseman Dairies in Scotland, after the competition appeals
body over-turned an 'inadequate' investigation by the Office of
Fair Trading.
Allegations of anti-competitive practices in the Scottish milk
market by Robert Wiseman Dairies have been dismissed by the Office
of Fair Trading because of a lack of evidence. The decision has
angered other dairy groups, and an appeal...
