LISBON May 5 Portugal's antitrust authority AdC
ruled on Friday to fine the country's largest company, the
utility EDP, 28.7 million euros ($31.54 million) and retail
giant Sonae 9.6 million euros for an illegal non-competition
pact between their subsidiaries.
Under the 2012 agreement, Sonae committed itself to not
competing against EDP in electricity trading in Portugal for two
years, the AdC said in a statement.
It said it had heard the two companies' defense on the
matter and ended up confirming its earlier decision that the
pact was illegal.
Sonae shares were 1.12 percent lower in late afternoon
trading, but EDP was up 1.4 percent.
($1 = 0.9100 euros)
(Reporting By Andrei Khalip, editing by Axel Bugge)