A PYMNTS Company

Spain: ACS leads as Spain’s most fined company: CNMC

By  |  April 8, 2019
Following the announcement by Spain’s National Commission of Markets and Competition (CNMC) of sanctions applied to 15 companies for colluding to fix tenders in the rail sector, Spanish company ACS has emerged as the company with the highest amount of cartel-related sanctions issued by the agency, accumulating more than 82.9 million euros in fines for illegal practices, in addition to being the only company fined for participating in three separate cartels.

After the dismantling of the cartel last week, sanctioned with a cumulative total of 118 million euros, almost half of these sanctions corresponded to subsidiaries of ACS, including Dragados, Sociedad Española de Montajes Industriales, Control y Montajes Industriales, and Electren . In total these four subsidiaries were given sanctions for 51 million euros.

Until now, the company with the most fines by the CNMC had been Procter & Gamble (P & G), after the fine of 68.5 million in 2016 against its subsidiary Arbora & Ausonia for participating in a cartel of manufacturers of adult diapers. Behind it is the Volkswagen Group, with thirteen sanctions for a total of 53.2 million collected in two separate files, resolved in 2015.

Full Content: Reuters

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