Shares in Walmart's Mexico subsidiary drop after company is investigated for monopolistic practices

📆 10/9/2023 11:55 PM
📰 AP

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Shares in Walmart’s Mexico subsidiary have dropped about 3.3% after Walmart de Mexico announced it is being investigated for alleged monopolistic practices. Analysts said it was not clear what regulators were alleging that Walmart de Mexico did. But an analysis report from Intercam Banco said Mexico’s economic competition commission could be alleging price-fixing or other practices at Walmart, the country’s largest retailer. The announcement was made late Friday, but in its first day of trading

MEXICO CITY — Shares in Walmart’s Mexico subsidiary dropped about 3.3% Monday after Walmart de Mexico announced it is under investigation for alleged monopolistic practices.But an analysis report from Intercam Banco said Mexico’s economic competition commission could be alleging price-fixing or other practices at Walmart, the country’s largest retailer.

Walmart issued a statement saying it is confident that it has “always obeyed the applicable law in order to guarantee the best prices, quality and assortment to customers.”

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