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Goldman Sachs, Prysmian, others lose challenge against EU cartel fine

Reuters  |  LUXEMBOURG 

By Foo Yun CheeLUXEMBOURG (Reuters) - Investment bank Goldman Sachs, the world's biggest cablemaker Prysmian, Nexans and eight other cable companies on Thursday lost their challenge against a 302 million euros ($353 million) EU cartel fine.The companies had appealed to the General Court, Europe's second-highest court, asking for the European Commission's 2014 decision to be thrown out and their fines reduced.The EU antitrust enforcer said the group ran a power cable cartel for almost 10 years from 1999, sharing markets and allocating customers between themselves. ABB escaped a 33 million euro ...

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First Published: Thu, July 12 2018. 19:39 IST