ArcelorMittal, steel firms hit by record fine in France
French competition regulators on Tuesday slapped a record fine of 575 million euros ($785 million) on giant Arcelor Mittal and 10 other steel firms for price fixing.
By Agencies |
PARIS: French competition regulators on Tuesday slapped a record fine of 575 million euros ($785 million) on giant Arcelor Mittal and 10 other steel firms for price fixing.
Topping the list of offenders, three subsidiaries of ArcelorMittal, the world's biggest steelmaker, were ordered to pay 301.7 million euros followed by KDI, a subsidiary of the German group Kloeckner, fined 169.3 million euros.
It was the biggest fine imposed by the French competition council since its creation in 1986.
Topping the list of offenders, three subsidiaries of ArcelorMittal, the world's biggest steelmaker, were ordered to pay 301.7 million euros followed by KDI, a subsidiary of the German group Kloeckner, fined 169.3 million euros.
It was the biggest fine imposed by the French competition council since its creation in 1986.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
