ExxonMobil Eyed For Price-Fixing In Mediterranean

Law360, New York (March 28, 2007, 12:00 AM EDT) -- ExxonMobil’s subsidiary in the Mediterranean nation of Cyprus has been implicated in a four-way price-fixing scheme by the island’s antitrust authority, the watchdog announced on Wednesday.

From Nicosia, the nation’s capital, the Commission for the Protection of Competition said it had summoned ExxonMobil Cyprus, Petrolina Holdings Public Ltd., Hellenic Petroleum Cyprus and Lukoil Cyprus to explain their pricing structures.

"We found suggestions of identical pricing policy among the four companies, and an apparent practice of each one of them setting prices among their dealers," Competition Commission...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.