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Prysmian says EU ruling "unlawful", will appeal against fine
April 2, 2014 / 12:10 PM / 4 years ago

Prysmian says EU ruling "unlawful", will appeal against fine

MILAN, April 2 (Reuters) - Italian cable maker Prysmian said on Wednesday it would appeal against a decision by European authorities to fine the group 105 million euros ($145 million) for breaking competition rules.

“Prysmian believes that the decision is based on a superficial and erroneous analysis of the relevant facts and, therefore, considers the decision unlawful,” it said in a statement.

Prysmian had set aside roughly 200 million euros in 2011 against risks stemming from antitrust investigations launched by the EU Commission and U.S., Canadian and Australian authorities.

$1 = 0.7249 Euros Reporting by Francesca Landini, editing by Valentina Za

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