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MEXICO CITY (AP) — Mexican regulators have ordered online retailers Amazon and Mercado Libre to reveal their algorithms, and to wall off TV streaming to avoid stifling competition. The COFECE order also covers the biggest Latin American online retailer, the Uruguay-based firm Mercado Libre. The commission said it had laid out corrective measures that would include prohibiting Amazon from promoting its TV streaming service as an incentive for consumers to buy Amazon Prime memberships. The COFECE also ordered Amazon not to take the “logistics” method — the manner of delivering purchases — into account in determining the order or prominence of search results. Online sellers have complained in the past that Amazon Prime forces vendors to use the company's own delivery services.

Persons: Mercado Organizations: MEXICO CITY, Amazon, Mercado Libre, Mexico’s Federal, Economic, U.S . Federal Trade Commission Locations: MEXICO, Mexico, Uruguay, Seattle

☆ Walmex Q3 net profit jumps more than 12%, pushed by higher sales
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

The logo of Walmart is pictured outside a store in Mexico City, Mexico July 27, 2023. Walmart de Mexico, or Walmex, the biggest retailer in Mexico, posted net profit of 13.63 billion pesos ($782 million). Quarterly revenue at the chain rose 7.7% from the year-earlier period to reach 213.07 billion pesos, missing slightly the LSEG estimate of 213.34 billion pesos. Sales increased 9.5% in Mexico and 9% in Central America, with the retailer adding 24 new stores in Mexico and three in Central America, which contributed 1.6% to total revenues. Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter rose 8.5% to 23 billion pesos.

Persons: Henry Romero, Walmex, Guilherme Loureiro, Loureiro, Cofece, Valentine Hilaire, Aida Pelaez Fernandez, Brendan O'Boyle, Tom Hogue, Cynthia Osterman Organizations: Walmart, REUTERS, MEXICO CITY, Central America, Thomson Locations: Mexico City, Mexico, MEXICO, Mexican, Central America

☆ Walmart's Mexico unit to face anti-trust panel after three-year investigation
▼ + stars: | 2023-10-07 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski//File Photo Acquire Licensing RightsMEXICO CITY, Oct 6 (Reuters) - Walmart's Mexico unit said on Friday it will face an anti-trust panel for alleged relative monopolistic practices related to the supply, wholesale distribution and marketing of consumer goods. The allegations follow a three-year investigation by Mexico's antitrust regulator, Cofece, and the company now has 45 days to provide arguments and evidence in its defense. Walmart de Mexico (WALMEX.MX), known as Walmex, was first told in 2020 that it was under review for possible antitrust behavior. The retailer last year posted revenue of more than 819 billion pesos ($45 billion) from its operations in Mexico and Central America.

Persons: Kamil Krzaczynski, Walmex, Cofece, Banorte, Valentine Hilaire, Daina Beth Solomon, Stephen Eisenhammer, Sandra Maler, Edwina Gibbs Organizations: REUTERS, MEXICO CITY, Walmart, Thomson Locations: Chicago , Illinois, U.S, MEXICO, Mexico, Central America

☆ Walmart in Mexico faces anti-trust panel for alleged monopolistic practices
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski//File Photo Acquire Licensing RightsCompanies Wal Mart de Mexico SAB de CV FollowMEXICO CITY, Oct 6 (Reuters) - Walmart'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. Walmex is among the biggest retailers in Mexico, with 2,890 locations in the country. Reporting by Valentine Hilaire and Daina Solomon; editing by Stephen Eisenhammer and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Kamil Krzaczynski, Valentine Hilaire, Daina Solomon, Stephen Eisenhammer, Sandra Maler Organizations: REUTERS, Wal Mart de, SAB, Walmart, Thomson Locations: Chicago , Illinois, U.S, Mexico

☆ Mexico launches antitrust probe in digital goods and services sector
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, July 3 (Reuters) - Mexico's antitrust watchdog has started an investigation into possible monopolistic practices in the market for the sale and development of digital goods and services, as well as related services, the government said in its official gazette on Monday. The Federal Economic Competition Commision (COFECE) said it had begun the probe to see if the practices in question breached federal competition law. It did not identify any company in relation to the file, cited as DE-023-2022, as is customary during investigations. COFECE said the process should not be understood as an assumption of responsibility on the part of any market player. The investigation would last at least 30 working days from the date of the announcement, and would not exceed 120 days, it said.

Persons: COFECE, Natalia Siniawski, Dave Graham, David Holmes Organizations: MEXICO CITY, Federal, Thomson Locations: MEXICO

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