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Germany: MAN not expecting fines from EU trucking probe

 |  November 26, 2014

Germany-based truck maker MAN said it will not make a provision for potential antitrust fines stemming from a current investigation into the industry by EU regulators.

According to reports, MAN announced Wednesday that it is not putting aside any money for potential sanctions; the announcement came just one day after Volvo said it has made a provision for nearly $500 million.

The companies are among several truck makers under investigation for alleged cartel behavior; the European Commission first announced last week that it has sent statements of objection to several companies suspected of price-fixing and other anticompetitive conduct.

German reports have previously surfaced that said MAN would not be fined and instead qualify for the EU’s leniency program, as it was the first to come forward to the Commission with evidence of a cartel. Those reports are unconfirmed, however.

Full content: Reuters

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