December 19, 2017 / 10:05 PM / 3 months ago

Canadian food cos Loblaw, George Weston issue price fixing response

TORONTO (Reuters) - Canadian supermarket chain Loblaw Co (L.TO) and George Weston (WN.TO) said on Tuesday they are acting to end anti-competitive actions after discovering and reporting their role in an industry-wide price-fixing arrangement involving some packaged bread products.

A sign is pictured outside a Loblaw supermarket in Ottawa, Ontario, Canada, November 14, 2017. REUTERS/Chris Wattie

    Shares in the two companies were halted earlier on Tuesday ahead of the release of the joint announcement.

    The two companies said that they would ensure price-fixing does not happen again. George Weston owns 48.4 percent of Loblaw.

    Reporting By Nichola Saminather; Editing by David Gregorio

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