translated from Spanish: Piñera: “any collusion must be condemned with full severity”

on Thursday, the Court’s defense of free competition (TDLC) condemned to Cencosud, Walmart Chile and SMU by collusion in the sale of chicken, but upon hearing the ruling, the three companies reiterated his innocence and announced that they will appeal to the Supreme Court. The Antitrust Court sentenced the three companies to pay, altogether, from $12.4 million, while the national economic Prosecutor (FNE) had requested the maximum, surroundings of $27 million for each company. In this regard the President of the Republic, Sebastián Piñera said – according to what reported half pulse-that “when there is collusion not only there is a breakdown and moral attack on the system, but which also lost this virtue of the social market economy the” competition is for the benefit of the consumer; why any collusion must be condemned with full severity”. The President added that “If a conduct of anti-competitive collusion of three major companies in the retail it would be extremely serious and, no doubt, has to apply tougher sanctions and there are mechanisms of compensation to all the” Chileans who were affected by anticompetitive conduct that we condemn and we will not allow,”he added. In both José Ramón Valente, Minister of economy, said that “we are strongly detractors a market that goes wrong and those who want to collude to the detriment of our society”, and added that “as Government, hate us that keep happening this type of” behaviors”.

Original source in Spanish