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| France fines yogurt cartel 192m euros for price fixing | France fines yogurt cartel 192m euros for price fixing |
| (about 2 hours later) | |
| French authorities have fined the country's top yogurt makers 192m euros (£136m; $204m) for engaging in a price-fixing cartel for six years. | French authorities have fined the country's top yogurt makers 192m euros (£136m; $204m) for engaging in a price-fixing cartel for six years. |
| Eleven firms - representing 90% of France's yogurt makers - were involved in setting the price of supermarket own-brand yoghurt. | |
| The collusion was first reported by Yoplait, which received no fines in return for exposing the cartel. | |
| Some firms are appealing against the fines. | Some firms are appealing against the fines. |
| In a statement, Lactalis - which received the largest penalty of 56.1m euros - said it obeyed all laws and that the fines "overestimate in an obvious way the gravity of what happened, and their impact on the economy". | In a statement, Lactalis - which received the largest penalty of 56.1m euros - said it obeyed all laws and that the fines "overestimate in an obvious way the gravity of what happened, and their impact on the economy". |
| Laiterie de Saint Malo, which was fined 300,000 euros, said it would appeal against the charges. | Laiterie de Saint Malo, which was fined 300,000 euros, said it would appeal against the charges. |
| The other companies are Senagral, Novandie, Les Maitres Laitiers du Cotentin, Alsace Lait, Laita, Yeo Frais and Laiterie H Triballat. | The other companies are Senagral, Novandie, Les Maitres Laitiers du Cotentin, Alsace Lait, Laita, Yeo Frais and Laiterie H Triballat. |
| The ruling found that the 11 firms colluded on how and when to drive up prices - and by what amount - for six years, from 2006 to 2012. | The ruling found that the 11 firms colluded on how and when to drive up prices - and by what amount - for six years, from 2006 to 2012. |
| According to the complaint, yogurt executives came together in secret via dedicated phone numbers, and through meetings in hotels and even in a famous Parisian cafe called Le Chien qui Fume. | According to the complaint, yogurt executives came together in secret via dedicated phone numbers, and through meetings in hotels and even in a famous Parisian cafe called Le Chien qui Fume. |
| Danone, the world's largest yoghurt maker, does not sell products under supermarkets' own brands and was not part of the cartel. |