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The
decision follows a related $4.6 million fine handed down by the
regulators, known as the Federal Competition Commission, for
alleged monopolistic practices. Walmart de Mexico said last week
it plans to appeal the fine.
The company did not immediately comment on Monday’s
announcement.
The Federal Competition Commission said Walmart must refrain
from pressuring suppliers to grant it any discounts offered to
competitors, among other things.
“For 13 years, Walmart used its market power to impose abusive
conditions on its suppliers, gaining illegal advantages over its
competitors,” the commission wrote in a statement.
“Walmart had a system that allowed it impose discretional
discounts, to force its suppliers not to give better prices or
terms to other stores, seriously affecting them, especially
those that were small and medium-sized,” the statement said.
Walmart de Mexico — by far the largest retail chain in Mexico —
described the case as unfair and claimed it contained “errors in
applying the law.”
The anti-monopoly agency, which is soon to be eliminated, 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 de Mexico’s shares fell about 2.5% on the Mexican stock
exchange Monday.
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