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ThyssenKrupp - fresh cartel fine covered by existing provisions
July 23, 2013 / 9:26 AM / 4 years ago

ThyssenKrupp - fresh cartel fine covered by existing provisions

DUESSELDORF, Germany, July 23 (Reuters) - German steelmaker ThyssenKrupp said on Tuesday the latest fine imposed by a regulator in a case involving price fixing for train track rails was already covered by existing provisions it had set aside.

Germany’s federal cartel office earlier said it was imposing an additional 98 million euros ($129 million) in fines against eight companies, including 88 million for ThyssenKrupp.

In July last year, the office fined four companies - ThyssenKrupp, two units of Voestalpine and Germany’s Vossloh - a combined 124.5 million euros for fixing the price of rail tracks and said it was investigating others.

$1 = 0.7580 euros Reporting by Tom Kaeckenhoff; Writing by Maria Sheahan; Editing by Christoph Steitz

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