ArcelorMittal, 9 Others Fined EU575 Million by France
December 16, 2008, Bloomberg

As reported in Bloomberg, French antitrust regulator Conseil de la Concurrence has fined ArcelorMittal, Kloeckner Distribution Industrielle SA and eight other steelmakers and brokers €575.4 million for pricefixing. This is the largest fine for antitrust activity ever levied by the Conseil.

"The Conseil’s severity sends a clear message on how seriously it takes cartels," said Jean-Patrice de la Laurencie, a partner in the Antitrust/Competition Practice at White & Case in Paris. "The message is even more important in this economic crisis: There won’t be any easing up on cartel enforcement."