Total: Studying French Antitrust Concerns Over LPG Market
August 21 2009 - 5:19AM
Dow Jones News
Oil giant Total SA (TOT) is studying the French antitrust
authority's statement of objections regarding alleged antitrust
practices in the liquefied petroleum gas market, a company
spokeswoman said Friday.
Total received the statement in July, the spokeswoman said. The
competition authority didn't immediately return a request for
comment.
In an annex to Total's recent second-quarter earnings report,
posted on the company's Web site, Total said it had received a
statement of objections in July from French antitrust authorities
concerning a product line of its refining and marketing
division.
Total has three months from the end of July to study the
statement of objections, the spokeswoman said Friday, declining to
comment further.
The French competition authority has informed Total and peers
Royal Dutch Shell PLC (RDSA.LN) and UGI Corp. (UGI) of its concerns
over suspected anticompetitive practices in the country's liquefied
petroleum gas market, according to a report in Les Echos newspaper
Friday.
Company Web site: www.total.com
-By Adam Mitchell, Dow Jones Newswires, +33 1 40171756;
adam.mitchell@dowjones.com