France's Antitrust Watchdog Fines 20 Courier Companies $739 Million - NASDAQ
France's antitrust watchdog on Tuesday fined 20 courier companies a combined EUR672 million ($739 million) for fixing price increases for parcel delivery services for six years.
Executives from a number of courier service companies, including Federal Express, Deutsche Post DHL, U.K.'s Royal Mail and TNT, routinely met on the sidelines of an industry group to discuss and agree on annual price increases imposed on customers between September 2004 and September 2010, the watchdog alleged.
United Parcel Service, which holds a significant market share in France, didn't participate in the price-fixing scheme, the watchdog said.
France's antitrust watchdog on Tuesday fined 20 courier companies a combined EUR672 million ($739 million) for fixing price increases for parcel delivery services for six years.
Executives from a number of courier service companies, including Federal Express, Deutsche Post DHL, U.K.'s Royal Mail and TNT, routinely met on the sidelines of an industry group to discuss and agree on annual price increases imposed on customers between September 2004 and September 2010, the watchdog alleged.
United Parcel Service, which holds a significant market share in France, didn't participate in the price-fixing scheme, the watchdog said.
