R53 mln fine for fixing

2008-05-09 00:00

Johannesburg — Tiger Brands CEO Peter Matlare says the firm is "upset and embarrassed" by Adcock Ingram Critical Care’s (AICC’s) involvement in collusion, for which it will pay a R53 million penalty.

The Competition Commission said the penalty it imposed on AICC equates to eight percent of the division’s annual turnover, and that the penalty is the highest imposed by it to date — in percentage terms — for collusive behaviour. The commission has referred the matter to its sister body, the Competition Tribunal, to confirm the order.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News
Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.