The Norwegian Competition Authority, Konkurransetilsynet, is fining several major Norwegian daily goods retailers a total of 4.9 billion Norwegian kronor. According to the authority, they have collaborated in an illegal price cartel and thereby breached Norway's competition laws.
"The cooperation between Coop, Norgegruppen, and Rema 1000 means in practice that they have shared large amounts of price information with each other," the authority writes in a press release.
The three chains together account for 95 percent of the Norwegian daily goods market.
The decision on fines can be appealed within six months to a review board.
"We do not agree with the authority's conclusion. We deny that we have done anything that restricts competition. We will appeal this decision," says Kårstein Eidem Løvaas, head of business policy at Rema 1000 owner Reitan Retail, in a press release.
Coop Norge also denies having breached competition laws.
