Norwegian competition authority confirms NOK45m fine for dairy group TINE BA

Nordic Business Report, Feb 19, 2007

NORDIC BUSINESS REPORT-19 February 2007-Norwegian competition authority confirms NOK45m fine for dairy group TINE BA(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

The Norwegian competition authority Konkurransetilsynet confirmed on Monday (19 February) its previously announced NOK45m fine for the dairy group TINE BA.

According to Konkurransetilsynet TINE abused its dominant market position in connection with supply negotiations with the retail chain REMA 1000 in 2004.

Konkurransetilsynet said that TINE had negotiated an exclusive contract with REMA 1000 through promising considerable discounts.

According to Konkurransetilsynet TINE also tried to achieve a similar agreement with the retail chain Rimi.

In a preliminary comment TINE on Monday said that it does not share Konkurransetilsynet's view of the events.

TINE has two months to respond to Konkurransetilsynet's decision.

TINE is a dairy cooperative owned by 17,300 Norwegian milk producers. The group operates 47 dairies and has an annual turnover of NOK14.7bn.

One British pound (GBP) is worth approximately 11.95 Norwegian kroner (NOK).

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