Eni’s EU Rubber Cartel Fine Cut by 20% to $138.8 Million
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Eni SpA, Italy’s biggest oil company, was granted a 20 percent cut in a European Union fine for colluding on prices of a synthetic rubber used to make diving equipment, shoe soles and condoms.
The EU General Court in Luxembourg reduced the company’s fine to 106.2 million euros ($138.8 million) from 132.2 million euros in a ruling today. The legal reasoning was kept confidential at the parties’ request.