Spain's National Competition Commission said on the 3rd that eight beauty product manufacturers have formed alliances to implement joint pricing of products.
Companies involved include the world's largest beauty products manufacturer L'Oréal of France, the US daily giant P & G, the German Henkel Group and other world-renowned companies, occupying 70% of the Spanish shampoo and hair care products market share.
L'Oréal’s Spanish subsidiary penalized the highest amount of 23.2 million euros. L'Oréal denied the price manipulation, arguing that once every six months with other companies will be just to exchange corporate strategies. A Procter & Gamble spokesperson said: "We are evaluating the details of the ruling. However, we have already set aside appropriate (fine) funds."
According to the data disclosed on the European "Weekly News" website, Procter & Gamble has reserved $575 million for such potential fines.
Procter & Gamble Company in Europe by the anti-monopoly investigation, analysts said that Procter & Gamble Company reserved such a huge amount of funds to deal with potential fines, people can not help but speculate on the extent of this daily chemical giant to participate in the industry "collusion."
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