Mexico’s Walmex expects final ruling from antitrust watchdog soon
12:58 pm Tuesday, October 08th, 2024
MEXICO CITY (Reuters) -Mexico’s Walmex, the local unit of U.S.-based retail giant Walmart, expects antitrust watchdog Cofece to soon announce its final ruling stemming from a probe into alleged anti-competitive practices, a senior executive said on Tuesday.
“It will probably happen in just a few days or weeks,” Javier Trevino, a Walmex senior vice president, told reporters during a press conference.
Cofece has accused Walmex of imposing prices and terms on its suppliers or distributors, in a case that centers on a lack of competition in many parts of Mexico.
The company’s top executive, Ignacio Caride, said on Tuesday that Walmex has not violated any legal terms.
“We have always acted in line with the law,” he said.
(Reporting by Diego Ore; Editing by Sarah Morland)
