CHILE: Wal-Mart in competition probe
The offices of global retailer Wal-Mart Stores' Chilean operation, as well as other local retailers, have been raided by the country's competition agency.
On Wednesday (14 December) the FNE authorised police raids at several supermarket chain's offices as part of an investigation into alleged unfair practices, seizing computers.
The supermarkets under investigation are Cencosud's Jumbo chain, Wal-Mart's Lider stores, Falabella's Tottus outlets and the Unimarc chain, the FNE said. "Today's proceedings were conducted in the framework of an ongoing investigation, referring to any behaviour or practices that might be contrary to free competition," it added.
A spokesperson from Wal-Mart said the Chile issue is "completely unrelated" to its own ongoing corruption probe.
"Faced with a requirement of regulatory authorities, our company is providing all the information requested to assist in the investigations carried out, while expressing its willingness to cooperate in any steps required," the spokesperson added.
"Also, our company emphasises its strict adherence to current legislation and its commitment to the principles of free competition, always with a view to providing an attractive proposition of value and quality to customers."
Chilean retailer Cencosud plans to raise up to US$718m in an initial public offering of American depository shares in New York....
US retail giant Wal-Mart Stores has suggested in a regulatory filing its internal investigation into bribery accusations could widen beyond the retailer's subsidiary in Mexico....
Dairy giant Arla Foods grabbed the headlines this week with the admission 250 jobs could go at the company, with the possibility of more to come, as it looks to drive efficiency. Elsewhere, Kellogg an...
Wal-Mart Stores has booked an increase in first-quarter profits as it reported better-than-expected sales at its US outlets....
Shares in Massmart Holdings continued their descent today (9 May) after sales gains in the first nine months of the South African retailer's financial year missed expectations and it announced a slew ...
- Pricing, productivity pay off for Mondelez
- BRICs and beyond: Kam Tai's Chinese growth story
- Analysis: Unilever's global ice cream push
- Happy Family CEO on baby and beyond
- Briefing: How is gluten-free faring in Europe?
- Nakd sale "attracts Burton's, Hain, Kellogg"
- Venezuela seizes Nestle, PepsiCo distribution hub
- Kerry launches premium cooked meat brand in UK
- Mondelez "cautiously optimistic" on China
- Bel international reach offsets Europe challenge