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Volvo Truck Books €400 Million for Possible Antitrust Fine
AB Volvo says its fourth-quarter income will be hurt by a €400 million provision made by the company ahead of the outcome of a European Union investigation into possible antitrust violations by the region's commercial truckmakers.
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AB Volvo says its fourth-quarter income will be hurt by a €400 million provision made by the company ahead of the outcome of a European Union investigation into possible antitrust violations by the region's commercial truckmakers.
The EC has been looking into charges that EU medium- and heavy-duty truck manufacturers have been fixing prices on their vehicles since 2011. In addition to Volvo Truck, the probe is looking at the activities DAF Trucks, Daimler and MAN.
Volvo notes that the investigation is still in the early stages. The company say it will reassess the size of the provision it made against a possible fine as the EC's probe evolves.
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