EU regulators fine Goldman Sachs, Prysmian, others 302 mln euros
BRUSSELS, April 2
BRUSSELS, April 2 (Reuters) - The European Union antitrust regulator fined investment bank Goldman Sachs, the world's top cablemaker Prysmian, Nexans and eight cable firms a total of 302 million euros ($416 million) on Wednesday for running a power cable cartel.
Prysmian received the biggest penalty at 104.6 million euros, which included a joint fine of 37.3 million euros with Goldman Sachs. The bank acquired the Italian company via one of its private equity funds in 2005 but has since sold its holding.
The European Commission said other cartel members included Japanese cable firms Exsym Corporation, J-Power Systems Corporation and Viscas Corporation, Korean peer LS Cable & System and General Cable Corp via its subsidiary Silec.
Reuters had reported on March 21 that the Commission would penalise the companies.