France: Washing machine makers fined US$214M for price rigging

According to Reuters, France’s competition authority fined six home appliance makers a total of € 189 million (US$214 million) for price-rigging in 2006 and 2009, the largest penalty it has handed out so far this year.

Whirlpool, Electrolux, Bosch’s BSH unit ROBG, Indesit, Candy Hoover, and Eberhardt Frères were fined for agreeing price increases on washing machines, fridges or ovens, the competition authority said.

Since these firms account for 70% of the French household appliances market, the cartel had a major impact on prices paid by retailers and consumers, Isabelle de Silva, who heads the Autorite de la Concurrence, said.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.

RECOMMENDED FOR YOU
 


More Articles