L'Oreal and Unilever amongst pharmaceutical companies fined millions for price fixing

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By Euronews
L'Oreal and Unilever amongst pharmaceutical companies fined millions for price fixing

The French competition authority has fined 11 multinational companies 951 million Euros for price fixing in supermarkets.

Employees from the various companies would meet in restaurants and exchange correspondence at their private homes to set price increases for household products such as soap and toothpaste.

The anticompetitive behaviour is illegal under French law.

Colgate-Palmolive, Unilever, Procter & Gamble, Sara Lee and L’Oreal are amongst those accused.

L’Oreal and Unilever say they will appeal.

SC Johnson, Colgate and Henkel will have smaller or no fines for cooperating and blowing the whistle on the cartel.