Philips: Received EU Cartel Charges On LCD Display Panels
July 13 2009 - 5:28AM
Dow Jones News
Dutch conglomerate Royal Philips Electronics NV (PHIA.AE) Monday
said it received cartel charges from the European Commission in
May, as a result of price fixing by one of its former units.
The commission alleges that Philips is "jointly and severally
liable for anticompetitive behavior by LG Display" (LPL), formerly
known as LG Philips LCD Co., for the period that it held joint
control of the company, Philips says.
Philips sold its remaining shareholding in LG Display in March
2009. The company said it plans to "vigorously" oppose the
commission's charges.
-By Peppi Kiviniemi, Dow Jones Newswires; +3227411483;
peppi.kiviniemi@dowjones.com