Final hours! Save up to 55% OFF InvestingProCLAIM SALE

BMW not interested in settling EU cartel investigations: WirtschaftsWoche

Published 09/27/2019, 01:54 AM
© Reuters. A logo of German luxury carmaker BMW, is seen ahead of the company's annual news conference in Munich
MBGn
-
BMWG
-
VOWG_p
-

BERLIN (Reuters) - Germany's BMW (DE:BMWG) has no interest in settling an investigations by the European Union antitrust authorities against the company and other German carmakers, German magazine WirtschaftsWoche reported on Friday, citing company sources.

In April, EU cartel regulators charged BMW, Daimler (DE:DAIGn) and Volkswagen (DE:VOWG_p) for colluding to block the rollout of cleaner emissions technology between 2006 to 2014.

The European Commission said the collusion took place during technical meetings held by the "circle of five", namely BMW, Daimler and Volkswagen Group's VW, Audi (DE:NSUG) and Porsche.

BMW had said it would contest the allegations "with all legal means if necessary", adding that it was probable the Commission would issue a "significant fine" and it would set aside a provision of likely more than 1 billion euros.

© Reuters. A logo of German luxury carmaker BMW, is seen ahead of the company's annual news conference in Munich

BMW was not immediately available for comment on the WirtschaftsWoche report.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.