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Germany fines companies for price fixing
German authorities fined two propane companies a total of 41.4 million Euro on April 15 for price-fixing, saying they colluded to stop customers obtaining cheaper prices. Westfalen AG and Propan Rheingas GmbH & Co KG supply two thirds of the German market for liquefied petroleum gas (LPG), the Federal Cartel Office in Bonn said. From 1997 until a raid in 2005, they had had a pact not to poach one another’s customers, Deutsche Presse- Agentur (dpa) reported. In 2007 and 2008, the Cartel Office fined nine other LPG companies a total of 209 million euros on related charges. Some have appealed. Investigators believe the companies avoided quoting prices to customers seeking to change supplier, or offered exorbitant prices to deliberately put them off. EU allocates funds to push energy pipelines There more barriers in Ukraine than in Europe Nabucco Consortium hails ratification of agreement by Turkish Parliament Iran-Pakistan-India pipeline deal close Nabucco consortium to finalize agreements blog comments powered by Disqus |
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