Carrefour fined 1.75 million euros for unfairly squeezing suppliers on price

PARIS: French retailer Carrefour has been fined 1.75 million euros ($2.1 million) for unfairly pressing suppliers for discounts during annual contract negotiations, the finance ministry said in Friday.

The ruling by the Paris Commerce Court follows a probe by anti-trust authorities into Carrefour’s practices during its 2016 negotiations with suppliers, the statement said.

The investigation found that Carrefour had forced suppliers to give discounts as a pre-condition to entering annual price negotiations.

The court ordered Carrefour to stop what it called “practices that restrict competition” and requested the provisional execution of the fine.

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Carrefour said it had put an end to the incriminated practices since February 2016 and would not appeal.

“The court did not reject the principle of seeking a discount but considered the discount was not sufficiently justified in its application,” a Carrefour spokeswoman said.

($1 = 0.8394 euros)

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