FCA Bank to Challenge Italian Competition Watchdog Decision

Date : 01/11/2019 @ 1:00PM
Source : Dow Jones News

FCA Bank to Challenge Italian Competition Watchdog Decision

Credit Agricole (EU:ACA)
Historical Stock Chart

6 Months : From Nov 2018 to May 2019

Click Here for more Credit Agricole Charts.
   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.
Your Recent History
Ivanhoe Mi..
Canadian D..
Xumanii In..
Euro vs Ca..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:ca D:20190522 11:57:26