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August, 24, 2016

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EU slaps 300-mil.-euro anti-trust fine on high-voltage power cable makers

BRUSSELS -- The European Commission on Wednesday fined 11 producers of high-voltage power cables a total of 300 million euros for operating a cartel that secretly split up the global market.

"These companies knew very well that what they were doing was illegal. This is why they acted cautiously and with great secrecy," said EU Competition Commissioner Joaquin Almunia said.

 

 

 

 

 

 

 

 

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