⁍ An association of Chilean food suppliers has sued the local unit of U.S. retail giant Walmart Inc.
⁍ The suit alleges Walmart abused its dominant position in the market to impose contracts on providers and set arbitrary prices.
⁍ Walmart Chile said in a statement that it had not been informed of the lawsuit.
– A group of food suppliers in Chile is suing Walmart, accusing the US retail giant of abusing its dominant position in the market, Reuters reports. The supplier union says Walmart “exploited in an abusive manner its dominant position in the supermarket supply market, by imposing on its suppliers the contracting of certain services and establishing arbitrary values associated with them.” The union, which includes Coca Cola, Nestle, Unilever, and Pepsico, is seeking a fine equivalent to about $12 million. Walmart Chile says it hasn’t been informed of the lawsuit, and that its relationship with suppliers “should be governed by the principles of respect for free competition, for which we work to establish transparent objectives, terms and conditions known in advance by both parties.”
Source: https://www.reuters.com/article/walmart-chile/walmart-chile-facing-supplier-suit-over-allegations-it-abused-market-dominance-idUSL1N2HK1OT