Germany's Daimler received the biggest fine of €1 billion, followed by DAF of the Netherlands at just above €750 million. BRUSSELS - The EU slapped a record fine of nearly €3 billion ($3.3 billion) on five of Europe's biggest truck-makers, accusing them of colluding to fix prices and dodge the costs of stricter pollution rules. "We are imposing the highest fine ever for a single cartel, but there are good reasons for this," Vestager told a press conference. The EU has slapped a record fine of 2.93 billion euros on five of Europe's biggest truck-makersEU Competition Commissioner Margrethe Vestager said truck makers Daimler, DAF, Iveco, MAN and Volvo/Renault had hatched the plan 14 years ago in a "cosy" Brussels hotel. The investigation is based on raids carried out on large truck manufacturers in 2011, based on a tip-off by MAN.

Source: Bangkok Post July 19, 2016 14:48 UTC