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Spain's Cepsa says to appeal EU bitumen fine

Wed Oct 3, 2007 7:01am EDT

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MADRID, Oct 3 (Reuters) - Spanish oil company Cepsa (CEP.MC) said on Wednesday it would appeal against a fine the European Commission levied on four companies for operating a cartel and coordinating bitumen prices in Spain.

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Earlier, the Commission said it was fining Cepsa 83.9 million euros ($119 million) for its role in the cartel.

"Cepsa will appeal the Commission's decision in the court of first instance as it is not responsible for the infractions it has been charged with and considers the sanctions to be unjustified and disproportionate," Cepsa said in a statement.

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