CZECH REPUBLIC: Anti-monopoly authorities in bottled water probe
"No competitor is allowed to influence entities to be taken over until the UOHS permits it to do so," said UOHS chairman, Josef Bednar. The UOHS did in fact block the merger of KMV, Podebradka, and Hanacka Kyselka last autumn, but KMV, part of Netherlands-based Ronaldsay BV, appealed against the decision. Bednar expects the appeal proceedings to be concluded within the next two to three weeks.
The penalties if companies are found to be in breach of Czech competition law are severe. "Any step against the competition law may possibly lead to a fine worth up to 10% of turnover for the previous year for all parties involved," said Bednar.
KMV, which already owned a 35% stake in Hanacka Kyselka, bought a 100% interest in Podebradka at the end of last year, effectively giving it 80% of the Czech mineral water market.
- Pernod Ricard's FY Performance by Region, Brand
- Japan follows in Scotch whisky's footsteps
- Brown-Forman's Q1 Performance by Region, Brand
- Why consumers don't care about vodka's provenance
- Battle continues for Pernod Ricard in US and China
- Diageo launches glass Bulleit & Cola bottles
- Pernod Ricard "in line" after full-year results
- Bruno Mars rum rolls out across US
- Brown-Forman CEO unfazed by FX headwinds
- Amazon adds alcohol to one-hour delivery service
- Global gin insights - market data, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research