Mittal fined $114 mln for Czech coke price fixing

19.12.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Mittal Steel Ostrava, the Czech unit of Arcelor Mittal , was fined 2.4 billion crowns ($114 million) by the Czech tax authority for alleged...

...fixing of coke supply prices, a business newspaper reported on Tuesday.

The Euro weekly magazine, in a report carried by its online edition, quoted two sources as saying the unit of the world's largest steelmaker was fined for abusing its monopoly position on the market and breaking the law by fixing coke supply prices.

The report said Mittal had appealed against the decision.

Neither tax authorities nor representatives of the company were immediately available for comment.

Mittal Steel and Arcelor decided to merge earlier this year.

[PRAGUE/Reuters/Finance.cz]

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