Over the past decade, the European Union has ramped up its efforts to investigate companies that flout competition law, and has been more prepared to hand out stiffer penalties for corporate actions that amount to ripping off consumers. And, true to form, the EU’s executive body has imposed another eye-watering fine that has turned out to be double the amount the company thought it would be.
At the end of September Swedish truck manufacturer Scania was fined €880m (US$1.04bn) by the European Commission for its involvement in a 14-year price-fixing cartel with five other companies.
