Competition Regulator Fines Bulgaria's Elprom Troyan over False Advertising

Competition Regulator Fines Bulgaria's Elprom Troyan over False Advertising

Bulgaria's Commission for Protection of Competition (CPC) said on Tuesday that it has fined local electric motors producer Elprom Troyan over the company's unsubstantiated claims, published on its website, stating that the company holds a leading market position and a large market share in Bulgaria. The competition regulator imposed a fine of 6,280 levs ($3,650/3,210 euro), equal to 4% of Elprom Troyan's net sales revenue in 2016, when the claims were first published on its website, the CPC said in its decision. The regulator opened proceedings upon the request of local Elprom Harmanli and Balkan Star. According to commercial register data, Elprom Troyan is fully owned by local businessman Mladen Mondeshki.

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