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On 13 July 2021, the Federal Economic Competition Commission (COFECE) published in the Federal Official Gazette1 the notice regarding the initiation of an investigation due to possible absolute monopolistic practices allegedly carried out in the market for maritime transportation services in the state of Quintana Roo.
Absolute monopolistic practices are anti-competitive agreements, contracts or arrangements between competing economic agents, whose object or effect is the manipulation of prices, restriction or limitation of supply or demand, division or segmentation of markets, agreement or coordination of bids in auctions, as well as the exchange of information between competitors to carry out any of the aforementioned conducts. These practices can also be referred to as horizontal or cartel practices.
Cartel practices are considered null and void and, consequently, shall not produce any legal effect. If the existence of an absolute monopolistic practice is proven, the responsible economic agents may be fined up to 10% of their annual income (in Mexico). Those who have participated or contributed to a cartel practice may be imprisoned for up to ten years under Mexican criminal law.
The term for this investigation is up to 120 business days, starting 10 December 2021 - the date of the initiation of the investigation, and can be extended up to four times.
1 DOF 13 July 2022, File No. IO-004-2021, Spanish
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