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British American Tobacco rebuts concerns about participation in price fixing conspiracy on the the Italian cigarette market

After a two-year investigation, the Italian Competition Authority AGCM has fined Philip Morris and ETI (Ente Tabacchi Italiani) for "interfering with cigarette price competition and artificially maintaining market stability" between 1993 and 2001. The AGCM has however cleared British American Tobacco (and other small players on the Italian market) of any allegation of active participation in the conspiracy. We provided economic advice to BAT throughout the investigation, on the proper economic analysis of the dynamics of the Italian cigarette market in the period under investigation.

For more information see Press Release and Italian Authority Decision

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