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EU: Vestager issues fines for Japanese electronics cartels

By  |  March 21, 2018

EU competition commissioner Margrethe Vestager has issued fines totaling €254 million to eight companies who have been found guilty of cartel formation, informed the European Commission in a press release.

The companies produce capacitors that are an electronic component that can store electrical energy for a short period of time. They are used in a variety of devices from smartphones to wind turbines.

In total, nine companies were included in the cartel activities, but one is free from punishment because it has revealed illegal cooperation with the Commission.

According to Vestager, companies colluded to maximize their profits. “Our decision once again emphasizes that we will not tolerate behavior that prevents competition that can affect European consumers. Even if it happens outside Europe, Vestager states in the press release.

Full Content: Borsen

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