Sharechat Logo

Regulator anticipates supermarket probe to take 'a number of months'

Thursday 20th February 2014 1 Comment

Text too small?

The Commerce Commission has confirmed it is formally investigating allegations of anti-competitive behaviour towards suppliers by Woolworths-owned Countdown, and expects the probe will take "a number of months."

Last week the regulator started assessing allegations made by Labour MP Shane Jones over Countdown's behaviour, and has today confirmed the formal investigation.

"The investigation will involve seeking a wide range of information from a variety of sources, including organisations from all areas of the supermarket sector," the regulator said in a statement. "The investigation is expected to take a number of months."

The issue came to light last week when Jones accused Countdown of leaning on suppliers and used Parliamentary privilege to protect himself from potential defamation proceedings.

Countdown has previously said it will cooperate fully with the inquiry.

Jones said the investigation "totally vindicated" the stance he has taken on the supermarkets.

"The campaign I have led has resulted in the Commerce Commission agreeing to an inquiry," Jones said. "That's a win for ordinary Kiwis, businesses and consumers,"

 

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

On 20 February 2014 at 4:42 pm Richard said:
I find it intriguing that Shane Jones is taking the fight to the Aussie owned supermarket on behalf on kiwi businesses, when... if he is succesfull... it is the kiwi consumer (Labour's consituency) that will ultimately pay through increased grocery prices. But at least it gets his name in lights.
Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

December 27th Morning Report
FBU - Fletcher Building Announces Director Appointment
December 23rd Morning Report
MWE - Suspension of Trading and Delisting
EBOS welcomes finalisation of First PWA
CVT - AMENDED: Bank covenant waiver and trading update
Gentrack Annual Report 2024
December 20th Morning Report
Rua Bioscience announces launch of new products in the UK
TEM - Appointment to the Board of Directors