- In Time for Holidays: More Gloom and Doom on Economy
- Turkey Day 101: How Well Do You Know Your Bird?
- US Home Prices Up 5th Month, 2nd Straight Quarter
- Holiday Guide to This Season's Smartphones
- Six Ways to Boost Your Income in a Big Way
- Buyers Look for Bargains at Luxury Condo Auction
- Ron Paul's Plan to Audit Fed a 'Serious Attack': Mishkin
- GM's Agreement to Sell Saab Unit Falls Apart
- Strong Banks, Weak Credit: Treasury Rethinks TARP
- Nov. 24: Unusual Volume Leaders
- NBA D-League On The Rise
- 3D's Tipping Point and Your Living Room
- On Twitter, Beware False Prophets
- My 2010 Home Price Outlook: UBS Analyst
- Why Are Options Piling into Dollar Tree?
- Novartis 'Cells' Its Flu Vaccine Technology
- Silicon Valley and Hollywood Now Fast Friends
- Markets Can Rise 5-10% in the Near-Term: Strategist
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- GM's Agreement to Sell Saab To Swedish Firm Falls Apart
- US Home Prices Up 5th Month, 2nd Straight Quarter
- Buyers Look For Bargains At Luxury Condo Auction
- FDIC Fund Falls into The Red, Bair Urges Lending
- Revised GDP Reading Puts Growth at 2.8%; Inflation Tame
- Weak Dollar Is Golden for Mining Companies
- CA "More Profitable" After Saving Energy: CEO
- 10 Holiday Cocktail Recipes from Top Mixologists
- Behind The Scenes With Warren Buffett
Text Size 
JAKARTA, Nov 4 (Reuters) - PT Carrefour Indonesia, the local unit of French retailer Carrefour which was ordered by the anti-monopoly commission to sell its stake in a local firm, will appeal the decision, the firm's lawyer said on Wednesday. A statement from KPPU, Indonesia's anti-trust agency, said on Tuesday that Carrefour had violated anti-monopoly laws by using its dominant market position to force suppliers to give higher discounts. Carrefour acquired local retailer PT Alfa Retailindo in January 2008, increasing its market share. The agency said Carrefour must sell its 79.89 percent stake in Alfa within a year to an unaffiliated firm and also fined the firm 25 billion rupiah ($2.62 million). "Carrefour cannot accept that ruling because it is an incorrect ruling which does not match the data, testimonies and research," Ignatius Andy, Carrefour's lawyer, told Reuters. "We will ask the district court to cancel the ruling." KPPU said that Carrefour had 57.99 percent of suppliers serving them in 2008 after the acquisition, compared to 46.30 percent in 2007. But Carrefour's lawyer said that its share of the retail market was a more appropriate measure and that was only 17 percent in 2008, based on research by A.C. Nielsen. Carrefour has 14 days to launch an appeal to the district court over the ruling. The firm competes with Lippo Group's Hypermart and Giant hypermarket owned by retail firm PT Hero Supermarket Tbk in the world's fourth-most populated country of 226 million people. ($1 = 9,539 rupiah) (Reporting by Tyagita Silka and Andreas Ismar; Editing by Ed Davies) ((tyagita.silka@thomsonreuters.com; Reuters Messaging: tyagita.silka.thomsonreuters.com@reuters.net; +62 21 384 6364 ext 905)) Keywords: CARREFOUR/INDONESIA (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Print
Email
- Remember when auto shows were major events where new models could generate buzz?
- A diet high in fat and sugar might actually be good for your portfolio.
- A new McDonald's in Manhattan is the nation's first to sport a sleek, chic interior imported from stores in London and Paris.
- Italians were outraged by a minister's comments that lunchbreaks are bad for waistlines and the economy.
- Playboy will outsource its publishing operations in a bid to become profitable again.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
Data is a real-time snapshot *Data is delayed at least 15 minutes