A PYMNTS Company

Germany: Rail co sees first damage payments from 2011 scandal

By  |  April 29, 2013

German rail operator giant Deutsche Bahn has received the first of damages since a 2011 price-fixing scandal lead to millions in compensation. Reports say the company is set to eventually acquire $65.1 million in damages from Voestalpine, an Austrian-based steelmaker. The scandal came before Germany’s Federal Audit Office, which called the multi-million dollar settlement “a big success,” after it uncovered a steelmakers’ cartel that hikes prices of steel tracks and switches to the rail company; ThyssenKrupp and Vossloh were also fined.

Full Content: DW

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