FCA Bank to Challenge Italian Competition Watchdog Decision

Date : 01/11/2019 @ 1:00PM
Source : Dow Jones News
Stock : Fiat Chrysler Automobiles N.V. (FCAU)
Quote : 16.78  0.16 (0.96%) @ 9:02PM

FCA Bank to Challenge Italian Competition Watchdog Decision

Credit Agricole (EU:ACA)
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   By Alberto Delclaux 
 

FCA Bank SpA said Friday that it will challenge the decision by Italy's competition watchdog to fine it over an alleged violation of competition rules in connection with a car-financing cartel.

FCA, which is a joint venture between Credit Agricole SA (ACA.FR) and Fiat Chrysler Automobiles NV (FCA.MI), was fined 178.9 million euros ($206.3 million) by the competition authority for participating in a cartel that ran between 2003 and 2017.

"FCA Bank believes that the charges brought against it in the decision have no merit and will challenge the decision before the competent administrative court," it said in a statement.

 

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

 

(END) Dow Jones Newswires

January 11, 2019 07:45 ET (12:45 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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