Italy’s biggest lender UniCredit announced it is among a group of banks accused of running a cartel in trading eurozone government bonds between 2007 and 2012, reported Reuters.
UniCredit made the disclosure on Wednesday night, April 10, at the request of Italy’s market watchdog, more than two months after the European Commission revealed that some traders at eight unnamed banks had exchanged commercially sensitive information and coordinated trading strategies in euro-denominated bonds.
UniCredit stated the Commission suspected some of its subsidiaries had violated antitrust rules and that it might be hit by a cash fine, though it deemed this unlikely. EU rules allow for a fine of up to 10% of global turnover.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI