The CNMC had opened a file against our client due to alleged price fixing agreements between the largest companies in the sector.

The CNMC had recapitulated numerous documentation that accredited the holding of the price agreement meetings.

We made an exhaustive analysis of the situation, studying the pricing, the way in which discounts were applied, the structure of the competition, and finally the importance of the business supposedly under the price cartel.

We explained that gross pricing had little to do with the price ultimately paid by the customer. In fact, the price negotiation took place about the discount given on the tariff price. We studied the dispersion of final prices to discover that it was very high, which points to a market in which competition works.

Finally, we studied the competition to discover that the different producers differed in terms of size and presence in markets, since they ranged from local companies to multinationals.

martinsdelima presented the report to the President, the Chief Economist and the Legal Director of the CNMC. In response to the CNMC's response, we had to write an additional expert report.