Unilever to be charged for cartel activity

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Johannesburg - The Competition Commission wants Unilever to pay a fine of 10% of its annual turnover in a cartel case.

The Commission wants the Competition Tribunal to prosecute a cartel case against Unilever SA and Sime Darby Hudson Knight, it announced on Wednesday.

The Commission is seeking an order from the Tribunal declaring that Unilever and Sime Darby contravened Section 4(1)(b)(ii) of the Competition Act as well as an order declaring Unilever liable for payment of an administrative penalty equal to 10% of its annual turnover.
 
This follows an investigation by the Commission, which found that Unilever and Sime Darby divided markets by allocating specific types of products and customers goods in the market for the manufacturing and supply of bakery and cooking products throughout South Africa. This conduct contravenes the Competition Act.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.13
-0.9%
Rand - Pound
19.86
-0.3%
Rand - Euro
17.06
-0.3%
Rand - Aus dollar
10.92
+0.5%
Rand - Yen
0.13
-0.0%
Gold
1,814.47
-1.3%
Silver
26.96
-2.4%
Palladium
2,859.51
-2.8%
Platinum
1,215.34
-2.0%
Brent Crude
68.55
+0.3%
Top 40
61,529
+0.3%
All Share
67,424
+0.3%
Resource 10
71,663
+1.5%
Industrial 25
83,756
-0.5%
Financial 15
12,642
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1421 votes
No, I did not.
52% - 3561 votes
My landlord refused
28% - 1891 votes
Vote