China fines Mercedes for price fixing

Part of clampdown on anti-monopolistic practices

(ANSA) - Rome, April 23 - China on Thursday fined Daimler's Mercedes-Benz 350m yuan ($56.5m) for price fixing as part of a broader clampdown on anti-monopolistic practices.
    A pricing regulator in Jiangsu said the luxury German carmaker pressured local dealers into setting a minimum sales price on some of its car models.
    Some of its local dealers were also fined 7.7m yuan, regulators said.
    A Mercedes-Benz spokesman said it "accepts the decision and takes its responsibilities under competition law very seriously".
    "We have taken all appropriate steps to ensure to fully comply with the law," a spokesperson told the Reuters news agency.
   

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