The Indonesia subsidiary of French supermarket chain Carrefour yesterday challenged an antitrust ruling ordering it to sell its 75-percent stake in local retailer Alfa Retailindo.The Business Competition Supervisory Commission on Tuesday ordered Carrefour Indonesia to sell its stake in Alfa to outside parties after it ruled that the chain dominated more than 50 percent of the market.
"We'll attempt to overturn the commission's ruling after we receive the official notification," Carrefour Indonesia lawyer Ignatius Andy told a press conference.
"The commission's findings are baseless."
He said Carrefour's market share in Indonesia, Southeast Asia's biggest economy with a market of 234 million people, was only 17 percent according to independent studies.
"Alfa's market share is very small. There's no way that we can dominate the market by acquiring it," he said.
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