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Spanish Competition Authority: CNC fines nine sherry wineries, sector association, regulator EUR6.7mln

( July 29, 2010, 11:29 GMT | Official Statement) -- MLex Summary: The Spanish competition authority CNC has fined nine sherry producers, the sector association Fedejerez and the regulatory council for origin denominations a total of 6.723 million euros, following requests for leniency by one of the participants in the cartel, Grupo Bellavista y Zoilo Ruiz Mateos. The authority established that the firms had operating a cartel since 2001 to control the production and price of sherry wines for export in the 'Buyer Owns Brand' market.The full statement follows (in Spanish):...

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