January 27, 2017 / 1:35 PM / a year ago

Chile's CMPC will pay $130 mln over collusion scheme - report

SANTIAGO, Jan 27 (Reuters) - Chilean forestry and paper group CMPC will pay around $130 million to consumers as compensation for a collusion scheme to control a related market, a local paper reported on Friday.

In October 2015, Chile’s competition regulator said CMPC and a subsidiary of Sweden’s SCA had colluded for at least a decade to control nearly 90 percent of the Chilean tissue and toilet paper market, inflating prices.

CMPC, controlled by Chile’s powerful Matte family, escaped a fine, but lawmakers demanded that it pay compensation to consumers, and it has been in talks with the government and consumer groups over the last 14 months.

A deal is close, with CMPC offering to pay $130 million, the La Tercera newspaper reported on Friday, citing sources close to the talks.

Details on the logistics still need to be worked out, but could involve a payment via a bank of around $10 per person going to every Chilean adult resident, the paper said.

CMPC could not immediately be reached for comment.

Shares in CMPC opened down 1.2 percent.

$1 = 650.0000 Chilean pesos Reporting by Felipe Iturrieta, Writing by Rosalba O'Brien; Editing by Bernadette Baum

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