Chile regulator: forestry companies colluded illegally to control toilet paper market

Chile's competitive practices regulator says two forestry companies colluded illegally for over a decade to control 90 percent of the toilet paper market.

The regulator says a court accepted its filing accusing the companies of colluding to control prices of toilet paper, napkins, absorbent towels and other products.

Economy Minister Luis Felipe Cespedes said Thursday that the collusion between the market's biggest players is outrageous and affects the poorest Chileans the most. He said the product generates about $480 million in annual sales.

The regulator says the collusion lasted from 2000-2011. It is asking the antitrust court to fine SCA Chile SA some $15 million. CMPC Tissue SA is not expected to be fined because the company acknowledged the anticompetitive conduct earlier this year.