Italy fines shipping cartel 4 million euro

Tuesday, April 03, 2012

Italian authorities have fined 15 companies and two trade associations more than 4 million euros ($5.3 million) for what it called a "secret cartel of shipping agents at the Port of Genoa" that operated a price fixing agreement for more than five years. The Italian competition authority -- Autorita Garante della Concorrenza e del Mercato -- said the agreement lasted from February 2004 through December 2009, if not longer. It involved the fixing of prices for agency ser...

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