Spain: Regulator probes advertising agencies over price fixing

Spanish regulator CNMC has launched a probe looking at several Spanish advertising agencies, which it suspects of forming a price-fixing cartel to manipulate the market for advertising space. Should these suspicions be confirmed during the CNMC’s investigation, the companies involved may be liable to fines of up to 10% of their income for the previous year.

CNMC inspectors raided the offices of five companies, including Media Sapiens Spain, Media by Design, Carat España, Persuade Comunicación and Optimedia, on May 24 and 25. The agency, acting on suspicions of anticompetitive practices prohibited by the country’s competition laws, has accused these agencies of entering agreements to coordinate on prices and other commercial deals, as well as dividing up the market and exchanging sensitive information.

The CNMC has remarked on its open handling of these raids, which differs from the secrecy under which dawn raids are carried out by other EU countries. However, some outlets have said that the agencies had therefore plenty of warning before the raids, allowing them to prepare and ‘clean out’ their headquarters.

Full Content: PRN Noticias

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