The Latvian Competition Council fines € 242.000 price coordinating practices in the services sector (Advertising agencies)

Summary On 8 May 2006, the Latvian Competition Council (“Competition Council”) imposed a fine in the amount of LVL 170,000 (€ 242,000) on 12 advertising agencies in Latvia for engaging in exchange of information regarding their service prices. The facts In 2005, mass media in Latvia reported on the intentions of Latvia's leading advertising agencies to raise their service prices by 15% - 20% in order to avoid the collapse of Latvia's advertising industry. Some agencies even called for the necessity of ‘collective' price increase. Following this information, the Competition Council initiated investigations and obtained email correspondence communicated among the agencies in 2004. The email correspondence revealed the following facts. First, the agencies proposed that each of them fills

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  • Mittal Investments (London)

Quotation

Mikus Buls, The Latvian Competition Council fines € 242.000 price coordinating practices in the services sector (Advertising agencies), 8 May 2006, e-Competitions May 2006, Art. N° 13341

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