Alcohol, Estonia, Legislation, Markets and Companies, Retail

Tallinna Kaubamaja informed the Tallinn stock exchange that today, the Prosecutor’s Office brought charges against Selver AS, a subsidiary of Tallinna Kaubamaja AS, in concluding an agreement between competitors and activities in the course of which the price of certain goods was allegedly fixed regarding third persons. Judicial proceedings will be initiated following the charges.

According to the prosecution, Selver AS, Rimi Eesti Food AS, Maxima Eesti OÜ, Prisma Peremarket AS, AS Helter-R and AS Liviko agreed to raise the retail prices of certain types of vodka in 2009.

"Selver AS considers the accusation unfounded and takes the position that it has not committed the acts listed in the charges," said Raul Puusepp, Chairman of the Board of Tallinna Kaubamaja AS. "Selver AS will continue its daily business activities and keep the stock exchange informed of developments in this situation in accordance with legislative requirements and the rules and regulations of the stock exchange," he added.

Selver's Board Member Kristi Lomp said also that the store chain has not concluded any price agreements with competitors. "The activity of the purchase team that forms the content of the accusation was clearly targeted at preserving competitiveness, not harming it. Based on such logic of the Prosecutor's Office, every other company could be sued and most likely no one in Estonian retail trade would remain clean if the law was applied this way," she said.