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Philips says to take provision for EU fine in Q4
December 5, 2012 / 1:20 PM / in 5 years

Philips says to take provision for EU fine in Q4

AMSTERDAM, Dec 5 (Reuters) - Philips Electronics said on Wednesday it will take a provision of 509 million euros ($666 million) in the fourth quarter to cover an EU fine for cartel practices in its television business.

The Dutch company is contesting a decision by the EU’s competition authority. ($1 = 0.7642 euros) (Reporting By Anthony Deutsch; Editing by Sara Webb)

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