By Diego Oré
MEXICO CITY (Reuters) -Mexico’s Walmex, the native unit of U.S.-based retail large Walmart (NYSE:), expects antitrust watchdog Cofece to quickly announce its ultimate ruling stemming from a probe into alleged anti-competitive practices, a senior govt mentioned on Tuesday.
“It will probably happen in just a few days or weeks,” Javier Trevino, Walmex’s senior vice chairman for company affairs, advised reporters throughout a press convention.
Later Alberto Sepulveda, the agency’s Authorized & Prevention senior vice-president, estimated the decision shall be introduced “before the end” of October.
Cofece declined to touch upon the timing of a ruling.
The investigation in opposition to Walmex, Mexico’s largest retail chain, started in 2020 after its competitor Chedraui filed a criticism accusing the corporate of attainable monopolistic practices.
Cofece has accused Walmex of imposing costs and phrases on its suppliers or distributors, in a case that facilities on an absence of competitors in lots of components of Mexico.
The corporate’s prime govt, Ignacio Caride, mentioned on Tuesday that Walmex has not violated any authorized phrases.
“We have always acted in line with the law,” he mentioned.
The antitrust watchdog alleged that small companies are affected by giant chains that impose harsh circumstances, similar to delaying funds or requiring sellers to imagine the chance of unsold merchandise.
Sepulveda nonetheless mentioned that Cofece didn’t enable Walmex to have an “adequate defense” all through many of the investigation and described the method as a persecution of the corporate.
If discovered responsible, Walmex could possibly be topic to fines and restrictions, in addition to attainable lawsuits from third events.
An unfavorable decision may drive Walmex to regulate its operations however wouldn’t like have an effect on the corporate’s already introduced investments.
“We will have to adapt to continue operating,” Caride mentioned. “We would be concerned if they put certain limits on us that would make our prices go up.”
