Mortgages

The Spanish dairy companies fined 88,25 million euros.

The Spanish dairy companies fined 88,25 million euros.The Spanish National commission on the financial markets and the competition (La Comision Nacional de los Mercados y la Competencia) wrote out a penalty of 88.25 million euros for nine dairy enterprises and two branch associations which occupy the main share of the market of Spain because of price arrangement and the section of the market of purchase of crude milk. The resolution was accepted last week after three years of investigation of this business.

The resolution, which appeal is not subject administratively, establishes various penalties to the enterprises, depending on their extent of participation that the regulator considers as "uniform and continuous violation of laws of the market" which was carried out by the dairy companies for 2000-2013.
Thus, Danone was written out the maximum penalty, in total in 23,2 million euros. The grocery Association Penyasanta (Corporacion Alimentaria Penasanta) received a penalty for the sum of 21,8 million euros. The Nestle, Lactalis, Puleva and Pascual companies – received penalties in 11,6 million, 10,6 million, 10,2 million and 8,5 million euros respectively.
Lawyers of Danone already declared that will appeal against this decision in the Supreme court of Spain as "categorically is not agree" with such penalty.