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Tuesday, 16.04.2024, 15:10
Maxima LT and Mantinga will have to pay millions in fines for a cartel
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In a final decision, the Supreme Administrative Court of Lithuania (LVAT) said that the companies had entered into a prohibited agreement with each other. However, it reduced the fines initially imposed by the Competition Council.
The amount of fine imposed on Maxima LT was reduced by 3.1 million euros, to 13.666 million euros, and the amount of fine imposed on Mantinga – by 2.25 million euros to 2.151 million euros.
Sarunas Keserauskas, chairman of the competition authority, earlier said that the authority’s experts had spent four years investigating this case and gathered sufficient evidence to prove that the companies had participated in the cartel for as long as ten years.
In December 2014, the antitrust watchdog imposed a fine of 16.8 million euros on Maxima LT and a fine of 4.4 million euros on Mantinga for price fixing, which the companies practiced for ten years.
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