February 1, 2018 / 9:17 AM / 8 months ago

EU's top court upholds fines for freight forwarding cartel

BRUSSELS (Reuters) - The European Union’s top court on Thursday said the Commission was right to fine a group of freight forwarding companies over cartel charges, dismissing an appeal brought by logistics groups Kuehne & Nagel, Panalpina and others.

The Commission had handed out fines of a total of 169 million euros ($210.1 million) to 13 companies in the sector in 2012, saying they had agreed on fixing various pricing mechanisms and surcharges in breach of EU rules.

“The Court of Justice rejects all the arguments put forward by those companies and upholds the amount of the fines imposed,” the EU’s top court said in a statement.

The European Commission can fine companies up to 10 percent of their turnover for breaching EU competition rules.

Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop

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