EU competition watchdog imposes big fines on cartels

EU competition watchdog imposes big fines on cartels

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EU Competition Commissioner Margrethe Vestager.

The European Union’s competition watchdog is sounding the warning to business cartels by announcing fines totalling more than half a billion euro in three cases.

The EU Commission said it fined groups of maritime car carriers €395m, spark plug suppliers €76m and brake system suppliers €75m for taking part in cartels.

EU Competition Commissioner Margrethe Vestager said: “The three separate decisions taken today show that we will not tolerate anti-competitive behaviour affecting European consumers and industries.”

In reference to its biggest fine, the Commission said Chilean maritime carrier CSAV, the Japanese carriers K Line, MOL and NYK, and Norwegian/Swedish carrier WWL-EUKOR formed a deep sea vehicle transport cartel for almost six years.

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