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French court gives record fine to sanitary products manufacturers

A supermarket in Paris AFP

A French court has slammed a billion-euro fine on top multinationals, including Unilever, Procter & Gamble and L'Oréal, for price-fixing. The Paris appeal court confirmed a 2014 conviction of 13 sanitary product manufacturers, reducing the fine slighly but still leaving at a record level.

The companies - Colgate-Palmolive, Henkel, Reckitt Benckiser, Sara Lee, SC Johnson and Bolton Solitaire, Laboratoires Vendôme, Gillette, Beiersdorf, Vania, Unilever, Procter & Gamble and L'Oréal - "coordinated their commercial policy towards supermarkets between 2003 and 2006,, in particular on price rises," the court ruled, confirming an earlier judgement.

It reduced the fine slightly from 951.1 million euros to 948.9 million euros but the figure is still a record.