BRUSSELS, April 2 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
Reuters had reported on March 21 that the Commission would
penalise the companies.
($1 = 0.7249 Euros)
(Reporting by Foo Yun Chee; editing by Robin Emmott)