Mexico competition watchdog probes pension funds sector

Mexico's competition watchdog has begun an investigation into possible monopolistic practices carried out by the country's pension funds, or Afores, according to an announcement on Monday in the country's official government gazette.

The announcement gave no further details into the investigation, which is being undertaken by the Federal Competition Commission, or Cofece.

Cofece was investigating afores for "absolute monopolistic practices," which it defines as agreements between competitors to manipulate prices, divide up markets, collude on bids, or restrict supply or demand in a market.