On Tuesday, November 7, Italy’s Antitrust authority reported that it fined the “big four” accounting firms a total of €23 million (US$26.61 million). They had been conspiring to divvy up large public consultancy contracts Reuters reported.
Deloitte, KPMG, Ernst&Young and PWC “colluded” to win contracts worth a total of €66 million
Deloitte, KPMG, Ernst&Young and PWC “colluded” to win contracts worth a total of €66 million (US$76.5 million), the statement said, “nullifying” the bidding process and “neutralising competition from outside the cartel”.
The fine each company received individually was not provided.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI