R1m fine for print merger

The Star Early Edition - - NEWS - – Sizwe Dlamini

THE COM­PE­TI­TION Tri­bunal has ap­proved a R1 mil­lion set­tle­ment agree­ment be­tween the Com­pe­ti­tion Com­mis­sion and the Na­tal Wit­ness in re­la­tion to the lat­ter’s fail­ure to no­tify it of a merger be­tween it and Mandla-Matla for the pro­vi­sion of print­ing ser­vices. In terms of the set­tle­ment agree­ment, Mandla-Matla would have to pay a penalty of R200 000 and the Na­tal Wit­ness R800 000, mak­ing the to­tal fine R1m, the tri­bunal said in a state­ment yes­ter­day. Cax­ton had ob­jected to the ap­proval of this con­sent agree­ment on the ba­sis that “the penalty im­posed was in­ad­e­quate”. Cax­ton is recog­nised as one of the largest pub­lish­ers and print­ers of books, mag­a­zines and news­pa­pers in South Africa. The com­pany had ini­tially asked the tri­bunal to im­pose a penalty of R40m, of which R20m would be sus­pended for five years.

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