Hasbro Inc.,
which escaped a potential $24.9-million
penalty after giving evidence on price fixing in the U.K.,
defended its actions, which it described as responsible, the
Financial Times reported, citing the world’s No. 2 toy company.
GUS Plc’s Argos store chain and closely held retailer
Littlewoods Plc were fined a record 22.7 million pounds this week
by the U.K. regulator for fixing prices of toys and games such as
Monopoly with Hasbro. Both plan to appeal. Hasbro escaped a fine
as it gave evidence that triggered the probe, the Office of Fair
Trading said.
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Hasbro said it had cooperated fully with the OFT
investigation and was pleased the Office recognized its
responsible approach by not imposing a fine, the FT cited the
company as saying.
Retailers and manufacturers colluded to fix prices of games
and toys such as Action Man figures and Tweenies between 1999 and
May 2001, the OFT said this week. An inquiry began in March 2001.
Bloomberg News
