Norway's Competition Authority has imposed a total fine of 4.9 billion kroner on major grocery chains Coop, Norgesgruppen, and Rema 1000 for illegal price collusion.

The investigation, which began in 2018, revealed that these companies shared extensive pricing information through so-called 'price hunters,' leading to higher food prices.

Initially, the fine was set at 21 billion kroner but was later reduced.

Despite the ruling, all three companies deny any wrongdoing and plan to appeal the decision.

The authority's decision serves as a stern warning against price-related collaborations that could limit competition.