Two Forestry companies colluded for more than a decade to control the prices of toilet paper and other products following a meeting at a golf course to end a price war, according to Chile’s competitive practices regulator.
Economy Minister Luis Felipe Cespedes said Thursday that the collusion between the market’s biggest players was outrageous and affected the poorest Chileans the most.
Chilean President Michelle Bachelet called the alleged collusion by companies that control 90 per cent of the toilet paper market “extremely serious.”
The regulator said Wednesday that an antitrust court accepted its filing accusing the companies of colluding to control prices of toilet paper, napkins, absorbent towels and other products from 2000 to 2011.
“It’s one of the biggest collusion cases ever uncovered in the country,” the agency said in a statement, adding that the companies have combined annual sales of about $565 million.
Full content: Washington’s Top News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
![](https://www.pymnts.com/wp-content/uploads/2025/02/Elon-Musk-DOGE-AI.jpg)
Elon Musk and a group of investors have submitted an offer to acquire control of OpenAI for $97.4 billion, according to CNBC. The bid targets the nonprofit entity that oversees the artificial intelligence startup behind ChatGPT.
Musk’s attorney, Marc Toberoff, confirmed to CNBC that he submitted the offer on Monday. In a statement on Musk’s behalf, Toberoff emphasized Musk’s desire to steer OpenAI back to its original mission. “It’s time for OpenAI to return to the open-source, safety-focused force for good it once was,” Musk said in the statement provided to CNBC.
The Wall Street Journal first reported on the unsolicited bid, which comes amid a growing rift between Musk and OpenAI CEO Sam Altman. The two were among the original co-founders of OpenAI in 2015, when it was established as a nonprofit dedicated to AI research. Since then, OpenAI has transformed into a dominant force in the AI industry, launching ChatGPT in 2022 and attracting major investment.
Related: Judge Signals Parts of Elon Musk’s Lawsuit Against OpenAI Could Go to Trial
Tensions between Musk and Altman have escalated in recent months, with legal disputes and public clashes playing out on social media. In response to Musk’s bid, Altman posted on X (formerly Twitter), “no thank you but we will buy twitter for $9.74 billion if you want.” Musk quickly fired back, calling Altman a “swindler” and later referring to him as “Scam Altman” in a reply to another user.
Musk’s AI venture, xAI, is positioned as a competitor to OpenAI. Meanwhile, CNBC recently reported that SoftBank is nearing a $40 billion investment in OpenAI, valuing the company at $260 billion. OpenAI has also formed partnerships with SoftBank and Oracle as part of an initiative called Stargate, which was announced shortly after President Donald Trump’s inauguration. The project aims to drive investment in AI infrastructure within the U.S.
Musk’s bid is backed by several investors, including xAI, Valor Equity Partners, Baron Capital, 8VC, and Ari Emanuel’s investment fund, per the Wall Street Journal. The report also indicated that if a deal were to proceed, xAI could potentially merge with OpenAI.
Source: CNBC
Featured News
Elon Musk Leads $97.4 Billion Bid to Take Control of OpenAI
Feb 10, 2025 by
CPI
Nigerian Court Confirms Consumer Protection Commission’s Authority Over Telecom Sector
Feb 10, 2025 by
CPI
Microsoft Under French Antitrust Investigation Over Bing Practices
Feb 10, 2025 by
CPI
Hausfeld Grows Antitrust Litigation Team
Feb 10, 2025 by
CPI
Microsoft Seeks to Ease EU Antitrust Concerns With Office Pricing Adjustment
Feb 10, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon