South Africa's Shoprite plans to appeal $ 1.4 million fine

JOHANNESBURG (Reuters) – South Africa's Shoprite said on Monday it would appeal against a $ 20 million rand ($ 1.4 million) fine-tuned to its ticket-selling subsidiary by the country's Competition Tribunal, which found agreements signed by the firm had hit competition.

The judgment is a priori of a case in point of view, and is considered to be one of the following. unites.

The initial box, covering 1999-2012, was referred to the market by Comprehension, owned by Shoprite since 2005.

"There is sufficient … evidence to suggest that the exclusive agreements had resulted in anti-competitive effects," the court's judgment said.

"Computicket will appeal the Competition Tribunal's finding," Shoprite, South Africa's biggest retailer, said in response.

In December, South Africa's Competition Commission, which recommended fining both Computicket and Shoprite's retail division as much as 10 percent of their annual turnover.

The price of this product is $ 1.5 billion, which is estimated at $ 145.3 billion in 2018. It is up to the court to decide whether it is to be charged or not.

In the former case, the commission recommended a fine of just under 22 million rand, while Computicket thought it should be closer to 10 million rand.

Shoprite's shares were down 0.23 percent at 1134 GMT.

($ 1 = 13.8751 rand)

Reporting by Emma Rumney and Tanisha Heiberg; Editing by Mark Potter