April 25, 2013 / 4:35 PM / 4 years ago

STXNEWS LATAM-Chile retailer Cencosud shares fall after fine

Shares in Chile’s Cencosud were down about 1 percent after the Supreme Court fined the retailer an estimated $70 million for a unilateral hike of its supermarket unit’s credit card maintenance fees in 2006.

The tumble dragged on Santiago’s blue-chip IPSA stock index, which was down 0.13 percent.

Laurence Golborne, who is vying to be the right wing’s candidate in the November presidential election, was Cencosud’s chief executive officer in 2006.

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