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France fines 12 household appliance firms $635 million for price fixing
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France fines 12 household appliance firms $635 million for price fixing
Dec 19, 2024 1:20 AM

PARIS, Dec 19 (Reuters) - France's antitrust agency has

fined 12 household appliance makers and distributors, including

Electrolux, Whirlpool and LG, a

total of 611 million euros ($635 million) for price fixing

between 2007 and 2014.

"These practices reduced competition between distributors

and kept prices artificially high for end consumers," the

competition authority said on Thursday.

Ten of the 12 companies did not contest the facts alleged.

Groupe SEB, which owns the Tefal and Rowenta

brands and received the largest fine of 189.5 million euros,

denied the accusations and said it planned to appeal against the

ruling.

French retailer Fnac Darty, which was fined 109

million euros, acknowledged the decision and said it would

settle the transaction in 2025, using short-term financing.

Representatives for Electrolux, Whirlpool and LG did not

immediately respond to requests for comment.

($1 = 0.9625 euros)

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