BUSINESS

Hondos group companies fined for cartel practices

TAGS: Justice

The Hellenic Competition Commission has imposed a fine of 1,053,595 euros on eight companies in the Hondos group, primarily in the cosmetics sector, for cartel practices in determining the retail prices of their products.

The admission of guilt by the Hondos companies resulted in the reduction of the original fine of 1.24 million euros, imposed during the arbitration process last year, by 15 percent.

The rule violation dates from the period from June 2003 to June 2006.

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