EU To Hit E.ON, GDF Suez With Price-Fixing Fines

Law360, New York (January 21, 2009, 12:00 AM EST) -- The European Commission reportedly is preparing to impose fines on French natural gas provider GDF Suez SA and its German counterpart, E.ON AG, in the coming days, after accusing the two of colluding to raise prices.

The commission could fine the utility giants up to 10 percent of each company’s revenues, French business newspaper La Tribune reported Wednesday, citing anonymous sources.

A spokesman for the European Commission did not return a request for comment.

The size of penalty still depends, however, on how long the commission...
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