Thyssen and others face suit over rail price-fixing
Deutsche Bahn is suing Thyssen- Krupp and three other companies for compensation over a rail price-fixing scandal that threatens to heap further financial damage on the German steel and technology conglomerate.
The claim for compensation comes little over a week after ThyssenKrupp reported a full year €5 billion net loss after booking a big writedown on failed steel plant investments in the US and Brazil.
German media reports, citing Deutsche Bahn sources, estimated the size of total compensation at €750 million and said ThyssenKrupp could be liable for about €400 million of that amount.
Germany’s federal cartel office in July imposed €124.5 million in fines on four companies over their in conspiracy to supply rails to Deutsche Bahn at inflated prices. – Copyright The Financial Times Limited 2012