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Philippine developer 8990 Holdings got 25 percent fine reduction in dominance abuse settlement

( October 8, 2019, 02:01 GMT | Official Statement) -- MLex Summary: Philippine-listed property developer 8990 Holdings and its condominium subsidiary, Urban Deca Homes Manila, received a 25 percent reduction in penalty in the country's first abuse of dominance case in return for voluntary acts to address their anticompetitive behavior, resulting in a final fine of 27.11 million pesos ($523,000). The full decision released by the Philippine Competition Commission states that antitrust officials considered three points in the company's proposed settlement as mitigating circumstances, including voluntarily desisting from imposing an exclusive Internet-service provider in all nine of its condominium projects.The full decision is attached. ...

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