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BREAKING NEWS

BREAKING NEWS

EU drops antitrust probe into industrial wrapping paper - Euromoney

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BRUSSELS (Reuters) – EU antitrust enforcers have dropped an investigation into the kraft paper market, a year and a half after it launched dawn raids, Euromoney said in its interim report published last month.

The European Commission inspected the Brussels office of Euromoney’s price reporting agency RISI in January last year, the business-to-business information provider said.

The EU competition regulator, which did not name the company in line with its policy, said at that time that the dawn raid followed others in 2016 and 2017 and was based on concerns that the firm may have taken part in a kraft paper and industrial paper sacks cartel.

“On 10 May 2019, the Group received confirmation that this case has been closed,” Euromoney said in the report.

The Commission, which can fine companies up to 10 percent of their global turnover for breaching EU antitrust rules, did not immediately respond to a request for comment.

(Reporting by Foo Yun Chee, editing by Louise Heavens)

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