Thursday, 6 December 2012

No competition - Record fine for TV cartels

Yesterday, the European Commission imposed a record fine of €1.47 billion on a number of international companies that had participated in one or both of two cartels concerning TV and computer monitor tubes. According to the Commission's findings, the companies fixed prices, shared markets, allocated customers between themselves and restricted their output for over a decade (1996-2006).

Several of the companies involved plan to appeal the 'disproportionate and unjustified' fine (see also FT article 'Record €1.47bn fine for TV cartels').

On the basis of EU law, any person or firm affected by anti-competitive behaviour as described in this case may bring the matter before the courts of the Member States and seek damages (cf. CJEU Courage and Manfredi).

More information is available in the European Commission's press release and on its website.

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