MEXICO CITY (Reuters) – Mexico’s antitrust watchdog Cofece said it could fine Walmart’s local unit Walmex up to 8% of its income if it does not comply with a resolution prohibiting the retailer from engaging in certain conduct deemed illegal, the regulator said on Monday.
The regulator’s statement comes after Walmex reported on Friday that Cofece ordered the company to pay a fine of over 93 million pesos ($4.62 million) for engaging in a monopolistic practice involving its suppliers.
($1 = 20.1190 Mexican pesos)
(Reporting by Diego Ore; Writing by Brendan O’Boyle; Editing by Aida Pelaez-Fernandez)