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ENI and Versalis lose appeal against EU synthetic rubber price-fixing fine

7:57 AM MDT | May 8, 2013 | Francinia Protti-Alvarez

The EU Court of Justice (Luxembourg) says it has rejected ENI's (Rome) appeal against a ruling by the EU General Court covering ENI's involvement in a price-fixing cartel in the synthetic rubber market between 1996 and 2002. ENI and its chemical subsidiary Versalis (Milan), formerly known as Polimeri Europa, are required jointly to pay a €181.5-million ($237.2 million) fine as a result of the decision. ENI and Versalis were originally jointly fined €272.25 million by the European Commission in 2006 for their participation in the cartel. The fine...

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