Mexico anti-trust regulator probes e-commerce abuses

Reuters News
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Posted: Feb 01, 2018 9:58 AM

MEXICO CITY (Reuters) - Mexico's anti-trust agency on Thursday said in a statement that it is investigating "probable" monopoly practices in Mexico's e-commerce market, which includes online retailers like Amazon.

The Federal Commission for Economic Competition, or Cofece, said in a statement that it was investigating possible practices such as price discrimination by major players to crimp the growth of smaller competitors.

Cofece did not provide details on what type of e-commerce was being investigated or name any companies but noted it had begun the investigation in late September.

"This process should not imply any prejudgment of the responsibility of any economic agent," the notice said.

Companies found guilty of monopolistic abuses could face fines of up to 8 percent of their revenues, the statement said.

E-commerce accounts for slightly more than 3 percent of all retail sales in Mexico, where shoppers fear credit card fraud and are often paid in cash.

Top players in the Mexican online e-commerce space include Amazon.com Inc, Argentina's MercadoLibre Inc Wal-Mart de Mexico.

(Reporting by Veronica Gomez; Editing by Lisa Von Ahn and Cynthia Osterman)