Hefty fines for price fixing

Shipping companies operating in the Strait of Gibraltar between Algeciras and Ceuta could be fined as much as €10 million for price fixing agreements made and carried out in 2008 and 2009.

Under Article 63 of the Ley de Defensa de la Competencia, offending firms can be fined between €500,000 for a minor infraction and €10 million for serious infractions.

The shipping companies Acciona, Euroferrys, Buquebús España, FRS and Balearia have been found guilty of price fixing and they now have fifteen days in which to respond.

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