Mexico’s trust-busters are sometimes regarded as a rather toothless bunch. The concentration of markets as disparate as beer, television and telephony appears to prove the thesis. But the problem often lies not with the trust-busters – officially known as the Federal Competition Commission – but with a legal system that makes prevarication into a fine art.
That the commission does have real teeth was shown on Tuesday by its decision to reject Nestlé´s takeover of Pfizer’s baby foods business in Mexico because it would give it too big a share of the nation’s market, hence giving it a free hand to raise prices. Continue reading »