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Germany: Daimler ups provision anticipating EU fines

 |  December 18, 2014

German auto maker Daimler said it is setting aside $748 million in response to EU proceedings against the company and other car makers.

Reports say the company is increasing the provision, first made in 2011, in response to an investigation by the European Commission. Daimler did not elaborate on what the investigation is looking into specifically, however.

The company added that it is fully cooperating with authorities involved in the matter.

Full content: UT San Diego

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