E.C. On Brink Of Punishing Bitumen Cartel: Report

Law360, New York (September 5, 2006, 12:00 AM EDT) -- The European Commission is on the brink of fining a slew of companies for allegedly fixing the price of road paving material bitumen in the Dutch market, according to inside sources.

On Tuesday, insiders indicated to Reuters that the E.C. is about to wrap up a four-year investigation into the purported bitumen cartel. Many believe British Petroleum Plc was the whistleblower.

The investigation includes oil giants Total, Shell and Exxon Mobil, as well as a group of Dutch construction firms, according to E.C. documents.

The fines,...
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.