Guitar maker Fender fined £4.5m for price fixing in UK

Firm admits to pursuing policy of restricting retailers from cutting online pricesThe guitar maker Fender has been fined £4.5m for price fixing by the UK’s competition watchdog as part of its clampdown on the musical instrument industry.The Competition and Markets Authority imposed the penalty on Fender Europe for breaking competition law by preventing online discounting for its guitars. It is the biggest fine issued in Britain for this type of price fixing, which is known as resale