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VW's truckmaker Scania appeals 880 million euro fine for price fixing

Reuters
European Competition Commissioner Margrethe Vestager holds a news conference announcing the EU regulators fined Scania 880 million euros (771.18 million pounds) for taking part in a truckmakers cartel, in Brussels, Belgium September 27, 2017. REUTERS/Yves Herman (Reuters)

STOCKHOLM (Reuters) - Swedish truckmaker Scania said on Tuesday it had filed an appeal against a decision by the European Commission to fine it 880 million euros (£0.7 billion) for taking part in a price fixing cartel.

The European Commission announced the fine in September, saying Scania had colluded with five peers, fixing vehicle prices to enable them to pass the costs of required environmental improvements on to customers.

"In the appeal, Scania contests the findings and allegations made in the Commission's decision," Volkswagen-owned Scania said in a statement.

In July, Volkswagen's MAN, Daimler, Volvo, Iveco and DAF admitted to taking part in the cartel in return for a 10 percent cut in their fines. Scania did not settle.

($1 = 0.8522 euros)

(Reporting by Anna Ringstrom; editing by Johan Ahlander)