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Thyssen-Krupp to Pay Penalty for Rail Cartel, Sueddeutsche Says

June 30 (Bloomberg) -- Thyssen-Krupp Stahl and other steel companies will be fined for having set up a cartel that Deutsche Bahn estimates may have cost it as much as 500 million euros ($632 million) on rail equipment, Sueddeutsche Zeitung reported.

Germany’s Federal Cartel Office intends to notify Thyssen-Krupp of the penalty in July, the newspaper said, without specifying how it obtained the information. Thyssen-Krupp confirmed that a settlement is underway without providing details, the newspaper reported.

To contact the reporter on this story: James Kraus in London at jkraus2@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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