EU Court Slashes €1.1B Antitrust Fines On Natural Gas Cos.

Law360, New York (June 29, 2012, 4:26 PM EDT) -- A European Union court slashed matching €553 million ($700 million) antitrust fines against E.ON AG and GDF Suez SA to €320 million apiece Friday, but backed the European Commission's ruling that the natural gas companies had agreed not to compete in each other's territories.

The EU's General Court concluded that the antitrust watchdog had overstated how long the agreement — inked in 1975 when the companies' predecessors decided to build a pipeline together to import Russian gas into Germany and France — had hindered competition in...
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