Norway food retailers face $2.4 bln antitrust fines

(Reuters) – Norway’s top three food retailers and wholesalers face fines amounting to a combined 21 billion Norwegian crowns ($2.4 billion) for breach of antitrust regulations, the Norwegian Competition Authority said on Tuesday. Norgesgruppen, Coop and Rema 1000 have cooperated in ways that may have resulted in inflated prices, the watchdog said. 

The three have each employed staff to survey prices at stores operated by competitors, and similarly agreed to allow those surveyors access to their own stores, which they said resulted in fierce competition and lower prices.