Bollore fined by EU for price fixing

June 24th, 2010 by James

Bollore fined by EU for price fixingFrench industry and media group Bollore was fined by EU antitrust regulators to the tune of 21 million euro ($28.18 million) for illegal price fixing in the carbonless paper industry.

Bollore was fined 22.68 million euros in December 2001 by The European Commission but the decision was annulled at a later stage on procedural grounds in September 2009.

From Economictimes.indiatimes.com:

EU antitrust regulators imposed a 21 million euro ($28.18 million) fine on French industry and media group Bollore on Wednesday for fixing prices illegally in the carbonless paper industry.

The European Commission, the EU competition watchdog, had in December 2001 fined Bollore 22.68 million euros. Bollore later appealed to the European Court of Justice, which annulled the decision in September 2009 on procedural grounds.

“The Commission has re-adopted the decision correcting the procedural error which led to the annulment of the 2001 decision,” the European Union executive said in a statement. It reduced the original fine after Bollore cooperated with the regulator.

Carbonless paper, or self-copying paper, is used for duplicating documents.

The procedural error leading to the annulment of the 2001 decision was corrected by the Commission, according to an executive of the European Union.

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