UPDATE 2: Antitrust says to check Magnit, retailers in 56 regions

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MOSCOW, May 26 (PRIME) -- Russia's Federal Antimonopoly Service will investigate into possible collusion between retailer Magnit and other retailers in 56 regions, where excessive prices for buckwheat were detected, the authority said in a statement on Tuesday.

"The Federal Antimonopoly Service has ordered its territorial offices in 56 regions to check for a cartel agreement between Tander (parent company of Magnit) and other retail chains," the antitrust said.

The authority held a meeting with Tander’s executives on Monday. The price policy of Magnit on socially important goods, including buckwheat, during the pandemic was the reason for the meeting. A markup of more than 200% was seen in some cases. The antitrust also suspected Magnit of colluding with retailer SPAR for the purpose of raising buckwheat prices.

Magnit issued a statement saying that the company had not received any official notifications describing the matter of claims of the antitrust but was ready for cooperation with the authority.

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