Asian companies are the hardest hit by fines for breaking antitrust law in the US, a new Korean report has found.
Fines imposed on Asian companies by the US increased from $428m between 1995 and 2004 to $5.1bn between 2005 and September of 2014 – or 77 per cent of all fines for such offences – according to a report published on Monday by the Korea Chamber of Commerce & Industry.
One of the report’s authors says Asian companies are falling foul of “cultural” differences with the US, where what they regard as cooperation is often seen as collusion. Read more
MTN is one of Africa’s most ubiquitous brands, its sunny blue and yellow logo peppering every street corner from capital cities to rural villages. Its biggest rival in home territory is Vodacom, currently in top spot with 47 per cent of the South African market. But their combined dominance is starting to grate local rivals and regulators. Read more
The US Department of Justice suit that aims to block the acquisition of Mexican brewer Grupo Modelo by AB InBev, because it could deter competition, will strike a chord in Mexican drinkers’ thirsty throats.
Over the years, small regional breweries have been swallowed up in Mexico, until a duopoly controls 90 per cent of the market – Modelo on the one hand and, on the other, Cuauhtemoc-Moctezuma, which Heineken acquired a couple of years ago from the Monterrey-based bottling and retail group Femsa. Read more
Fines handed down on Friday by China’s anti-trust body to Korean giants Samsung and LG and four smaller Taiwanese manufacturers are a clear sign that China is getting tough on price fixing and other anti-competitive behaviour. Foreign companies can now expect the same treatment in China as they get in the US and Europe. Read more