Sherry bodegas fined: correction

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  • Monday 6 September 2010

On 9 August we published an article entitled 'Nine sherry bodegas fined €7m for breaching competition rules'. We would like to correct certain misleading statements in the story.

This article gave the impression that companies which are part of Grupo Garvey - Bellavista and Zoilo Ruiz Mateos - were part of the cartel which was found guilty of anti-competitive practices in trying to establish a quota system for sherry sales, and that Ruiz Mateos was dealt with leniently by the Spanish courts in consideration of its cooperation in the investigation. Grupo Garvey has made clear that although it is a member of the Sherry Consejo Regulador, its companies did not vote for the proposed illegal quota system and therefore were not part of the investigation.

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