France fines washing machine makers millions for price rigging
Whirlpool, Electrolux, Bosch’s BSH unit, Indesit, Candy Hoover and Eberhardt Frères hit for agreeing to price increases on washing machines, fridges or ovens
PARIS — France’s competition authority fined six home appliance makers a total of €189m on Thursday for price-rigging in 2006 and 2009, the largest penalty it has handed out so far in 2018. Whirlpool, Electrolux, Bosch’s BSH unit, Indesit, Candy Hoover and Eberhardt Frères were fined for agreeing to price increases on washing machines, fridges or ovens, the competition authority said. Since these firms account for 70% of the French household appliances market, the cartel had a major impact on prices paid by retailers and consumers, Isabelle de Silva, who heads the Autorite de la Concurrence, said. The companies did not contest the fines and some even apologised to regulators for their behaviour, De Silva said. The ruling found the companies colluded on sales prices to retailers in 2006 and in 2009 on the sidelines of official meetings of their federation the Gifam, and in chic Parisian restaurants. The fines were the result of a probe started in 2012 after whistleblowers contacted F...
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