(Reuters) -Ten car manufacturers, including BMW and Ford, and two trade bodies have reached a settlement with the UK’s competition regulator to pay 77.7 million pounds ($100.43 million) in a fine after admitting to breaking competition law in relation to vehicle recycling, Competition and Markets Authority said on Tuesday. “These manufacturers illegally agreed not to […]
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Car makers settle competition law case with UK’s antitrust regulator
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(Reuters) -Ten car manufacturers, including BMW and Ford, and two trade bodies have reached a settlement with the UK’s competition regulator to pay 77.7 million pounds ($100.43 million) in a fine after admitting to breaking competition law in relation to vehicle recycling, Competition and Markets Authority said on Tuesday.
“These manufacturers illegally agreed not to compete against one another when advertising what percentage of their cars can be recycled,” UK’s CMA said.
($1 = 0.7737 pounds)
(Reporting by Shanima A in Bengaluru; Editing by Shreya Biswas)