[Headlines Only] [Top Stories Only]
Categories
· Business (Tobacco)
· Cross-Border/Crime
· Business (General)
non-USA, by Country
· UK
Organizations
· Glh

Supermarkets and tobacco firm are fined £173m for price fixing - Times Online 

Jump to full article: Times Of London (uk), 2008-07-12
Author: Valerie Elliott, Consumer Editor

Intro:

Supermarkets must pay a multimillion pound fine for ripping off smokers in collusion with Gallaher, the tobacco company, it was announced yesterday.

Asda and Somerfield have admitted fixing the price of cigarettes and overcharging customers under a secret deal with the manufacturer of brands including Benson & Hedges and Silk Cut. The Office of Fair Trading said that a total of £173.3 million in fines and costs had been agreed in one of the biggest settlements of its kind.

Other firms that admitted colluding in the pricing scam include the owner of Threshers, the off-licence chain, and One Stop convenience stores, which must contribute towards the settlement. But the lion’s share of the fine — £93 million — will be paid by Gallaher, owned by Japan Tobacco.

Jump to full article »