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Germany: BMW, Daimler, Volkswagen fined for forming steel cartel

 |  November 21, 2019

Germany’s cartel authority announced on Thursday, November 21, it was fining the country’s three major carmakers, BMW, Volkswagen, and Daimler, a total of €100 million (US$110.84 million) for unlawful actions in relation to steel purchases.

The carmakers unlawfully coordinated on the prices they paid for steel from suppliers, the cartel office said in a statement, adding that the resulting prices were paid until at least 2016. 

All three companies accepted what the cartel office determined, it added.

Full Content: Reuters

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