EU Slashes ArcelorMittal Antitrust Fine

Law360, New York (April 4, 2011, 4:19 PM EDT) -- The European Commission on Monday slashed a fine issued to steelmaking giant ArcelorMittal SA, reducing its penalty for allegedly participating in a nearly 20-year price-fixing scheme with 15 other steel companies by approximately 80 percent.

According to a statement released by the competition regulator, ArcelorMittal will now have to pay €45.7 million ($65 million), instead of the €230.4 million fine the agency had previously levied against the world’s largest steel producer.

The agency slightly reduced penalties issued to Ori Martin/Siderurgica Latina Martin as well, dropping the...
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