A number of truck manufacturers are suspected to have breached EU competition rules .
Now in danger Volvo billion in fines, and falls in the stock market, writes DI.se .
Truck manufacturers, Volvo, Scania, MAN and Daimler suspected of price collusion in the European market and face heavy fines.
It was on Thursday that the European Commission told about suspicions that truck manufacturers violated EU competition rules writes DI.se .
Right after the announcement fell Volvo’s shares on the Stockholm Stock Exchange. And the company may have to pay hefty fines – if the Commission considers that there is evidence of the suspected rule violations can truck manufacturers pay the equivalent of ten percent of its annual turnover in fines, according di.se. Last year, Volvo Group 272.6 billion crowns.
– This may cost the Volvo billions. When the European Commission come this far and look at what you are doing, it means that you have very strong evidence, says Hampus Engellau, automotive analyst at Handelsbanken, said.
Volvo and the other companies have been informed of the investigation and given the opportunity to comment.
“The Volvo Group is cooperating fully with the authorities and has previously announced that the Group is of the view that it is probable that the Group’s financial performance and cash flows may be affected materially adversely as a result of the Commission’s investigation “writes Volvo in a press release.
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