Yochananof CEO latest to be questioned on suspected price fixing

Eitan Yochananof Photo: Eyal Izhar

Eitan Yochananof follows in the footsteps of top executives from Shufersal, Victory, Diplomat, Unilever and Rami Levy in being questioned by the Israel Competition Authority.

Supermarket chain M. Yochananof & Sons. 1998 Ltd. (TASE: YHNF) CEO Eitan Yochananof has become the latest Israeli senior executive to be questioned by the Israel Competition Authority on suspected price fixing. Last week the Israel Competition Authority questioned top officials on the matter from Shufersal, Victory, Diplomat, Unilever and Rami Levy.

Yochananof notified the Tel Aviv Stock Exchange (TASE) today, "The company announces that Mr. Eitan Yochananof, one of the controlling shareholders, CEO and a director of the company has told it that he was summoned for questioning at the offices of the Israel Competition Authority. At the time of this report the company has little additional details of the aforementioned."

The affair began on November 9 when the Israel Competition Authority raided the offices of Shufersal and Strauss and seized computers and documents with both company's CEOs questioned.

At the heart of the investigation are allegations that companies colluded over prices through 'signals' given during media interviews and in financial reports. What many of those questioned have in common is that they hinted that prices are set to rise or announced that they would raise prices.

The Israel Competition Authority said last week, "The Israel Competition Authority has opened an investigation and is examining suspicions about violations of the Competition Law by a number of suppliers and chains following events that took place recently. As the investigation is in its initial stages, no additional details can be provided at this juncture."

Presumption of innocence: Those under investigation are only suspects and have been charged with no offense and so have the right of the presumption of innocence.

Published by Globes, Israel business news - en.globes.co.il - on November 16, 2021.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2021.

Eitan Yochananof Photo: Eyal Izhar
Eitan Yochananof Photo: Eyal Izhar
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