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Jump to full article: Financial Times (uk), 2008-07-11
Author: Megan Murphy and Pan Kwan Yuk
Intro: A tobacco manufacturer and five retailers agreed to pay the biggest collective penalty handed down by the UK’s competition watchdog on Friday for price-rigging after admitting their role in efforts to boost the cost of cigarettes.
The six companies agreed to pay £132m to settle the charges with Gallaher, one of two tobacco manufacturers involved in the case, shouldering the lion’s share of the burden after agreeing to pay £93m.
Asda, First Quench, One Stop Stores, Somerfield and TM Retail have also signed so-called “early resolution” agreements with the OFT in exchange for a significant reduction in the fine that would otherwise have been imposed at the conclusion of the probe.
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