Portugal’s antitrust authority AdC ruled on Friday to fine the country’s largest company, the utility EDP, $31.54 million and retail giant Sonae $10.55 million for an illegal non-competition pact between their subsidiaries.
Under the 2012 agreement, Sonae committed itself to not competing against EDP in electricity trading in Portugal for two years, the AdC said in a statement.
It said it had heard the two companies’ defense on the matter and ended up confirming its earlier decision that the pact was illegal.
Full Content: Reuters
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