French Competition Council Imposes Record 575 Million Fine On Steel Cartel, Pioneers Use Of 'Partial Immunity' For Cooperation

Author: Mr Proskauer Rose LLP's Antitrust And Trade Regulation Practice Group

Author position: Proskauer Rose LLP

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Extract

French Competition Council Imposes Record 575 Million Fine On Steel Cartel, Pioneers Use Of 'Partial Immunity' For Cooperation

Summary

On December 16, 2008, the French Competition Council imposed

fines of €575 million on 11 steel products traders for

colluding to fix prices and to share the market in violation of the

antitrust laws of the EC and France. This is the highest total fine

ever imposed on a cartel by the Council. The fine shows that the

Council is moving in the same dir...

French Competition Council Imposes Record  575 Million Fine On Steel Cartel, Pioneers Use Of 'Partial Immunity' For Cooperation