A PYMNTS Company

Germany: Auto price-fixing scandal entraps Bosch

By  |  January 8, 2014

German engineering firm Bosch confirmed to media Wednesday that it is now the subject of an investigation by the European Commission in part of the authority’s auto parts price-fixing case.

Bosch is one of the largest car parts suppliers in the world. Its main rival Schaeffler confirmed last month that it was also the subject of the same probe and had even set aside more than $500 million for potential fines.

The car parts case has expanded throughout the globe with US and Asian authorities also heavily cracking down on the alleged scheme.

Full Content: Reuters

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