Brussels, 18/06/2014 (Agence Europe) - Investment bank Goldman Sachs is to lodge an appeal at the European Court of Justice against a decision by the European Commission to fine several electrical cable companies for price-fixing (see EUROPE 11052), according to reports in the Wall Street Journal on 18 June.
From 2005 to 2010, Goldman Sachs owned Italian electrical cable company Prysmian, and was considered jointly and severally liable for a fine of €37 million. The Commission says the cartel of which Prysmian was a member lasted from 1999 to January 2009. The Commission imposed fines of €304 million on the cartel, in which eleven companies were involved. (EL)