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Heavy fines for asphalt cartel

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11:28 CEST+02:00
Several major construction companies have been ordered to pay multi-million kronor fines for their part in a high-profile price-fixing scandal.

The Swedish Competition Authority (Konkurrensverket) had called for fines amounting to a combined total of 1.2 billion kronor ($175m) for the companies involved.

In Tuesday's verdict, Stockholm District Court dished out heavy fines to Skanska (170m kr), NCC (150 m kr), Vägverket Produktion (50m kr), Peab Sverige (50m kr) and Peab Asfalt (33m kr).

The fines were however considerably lower than the competition authority had hoped.

Six years have passed since the competition authority first received a tip-off that Sweden's construction giants had reached an internal agreement to keep road-laying costs as high as possible.

The authority's investigations resulted in what has become the largest cartel trial in Swedish history.

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