Germany’s BMW has no interest in settling an investigations by the European Union antitrust authorities against the company and other German carmakers, German magazine WirtschaftsWoche reported on Friday, September 27, reported Reuters.
In April, EU cartel regulators charged BMW, Daimler, and Volkswagen for colluding to block the rollout of cleaner emissions technology between 2006 to 2014.
The European Commission claimed the collusion took place during technical meetings held by the “circle of five,” namely BMW, Daimler, and Volkswagen Group’s VW, Audi, and Porsche.
BMW had stated it would contest the allegations “with all legal means if necessary,” adding that it was probable the Commission would issue a “significant fine” and it would set aside a provision of likely more than €1 billion.
Full Content: Reuters
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