Rail operator Deutsche Bahn has reportedly agreed with steelmaker ThyssenKrupp to a settlement awarding the state-owned company millions after Deutsche Bahn sued ThyssenKrupp for its alleged participation in a price-fixing cartel, say reports.
ThyssenKrupp announced the companies had reached a settlement in principle outside of court, though the offer remains subject to approval by both parties.
While the settlement details were not announced, local media reported the damages to be paid to Deutsche Bahn at more than $200 million.
The rail company first sued the steelmaker in 2012 for fixing prices in the railway steel market; the allegations accused Czech Republic-based Moravia Steel, Austria-based Voestalpine and Germany-based Vossloh as additional participants in the scheme. Deutsch Bahn claimed it lost more than $600 million from the collusion.
A probe by Germany’s competition regulator found ThyssenKrupp liable and ordered the company to pay more than $300 million in fines.
Full Content: DW
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 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