JAKARTA: An Indonesian watchdog ruled yesterday that a subsidiary of French supermarket chain Carrefour was in breach of anti-monopoly rules and ordered it to sell its stake in local retailer Alfa Retailindo.

The Business Competition Supervisory Commission (KPPU) ordered Carrefour Indonesia to sell its 75-percent stake in Alfa, which it acquired for 674bn rupiah ($70.9m) earlier this year.

It also fined Carrefour 25bn rupiah for breaching Indonesia’s competition rules.

“Carrefour has one year to sell its stake in Alfa Retailindo,” KPPU commissioner Dedie Martadisastra, who presided at the court, said.

The commission found that Carrefour’s share in the wholesale market stood at 67 percent as of June, up from 45 percent before the acquisition took place.

Its share in the retail market stood at 48 percent, up from 38 percent.