EU competition watchdog imposes big fines on cartels

EU competition watchdog imposes big fines on cartels

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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