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MEXICO CITY (Reuters) - Walmart (NYSE:WMT)'s Mexico unit said on Friday it will face an anti-trust panel for "alleged relative monopolistic practices" related to supply and wholesale distribution of consumer goods.
Walmart de Mexico said in a statement that Mexico's antitrust regulator, Cofece, had informed the company of opening a "quasi-jurisdictional process" following a 3-year investigation.
The retailer, known as Walmex, said it now has 45 days to provide arguments and evidence in its defense, after initially being told in 2020 that it was under investigation.
"Walmex is confident that it has always acted in accordance with applicable law to ensure the best prices, quality and assortment to its clients," the company said in a statement.
It added that it could not yet predict any impact to its finances and operations.
Cofece declined to comment.
The regulator has previously flagged the need for the Mexican retail market to allow smaller companies to fairly participate alongside large chains.
Walmex is among the biggest retailers in Mexico, with 2,890 locations in the country.
Walmart in Mexico faces anti-trust panel for alleged monopolistic practices
