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Walmart de Mexico said in a statement that it had talked with
suppliers to see if there were any concerns. The agency that
issued the fine, known as the Federal Competition Commission,
expressed concerns about a “relative monopolistic practice.”
The commission, Mexico's main anti-monopoly regulatory agency,
is one of several independent agencies soon to be eliminated as
part of what the government describes as a money-saving measure.
It apparently levied the fine after at least one rival store
chain accused Walmart of using its substantial purchasing power
to gain discounts that put other sellers at a disadvantage.
Walmart is by far the largest retail chain in Mexico. It called
the decision “incorrect” and said it contained “errors in
applying the law.” The company said it would abide by the
agency’s ruling Thursday, but would appeal the decision.
Walmart's shares rose about 7.5% on the Mexican stock exchange
Friday.
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