ArcelorMittal’s EU Cartel Fine Cut by 80% to $65 Million
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ArcelorMittal won an 80 percent reduction in European Union antitrust fines after a regulator said it couldn’t force the company to pay the share of the overall penalty earmarked for three units.
While the EU normally takes into account the global sales of parent companies when deciding fine levels, in this case “the subsidiaries could not pay this fine and the parent company would not pay it either,” Amelia Torres, a spokeswoman for the European Commission, told reporters in Brussels today.