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EU fines Philips, Asus, Pioneer, Denon & Marantz total 111 million euros

July 24, 2018 11:10 AM
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EU fines Philips, Asus, Pioneer, Denon & Marantz total 111 million euros

BRUSSELS (Reuters) - EU antitrust authorities handed down a total fine of 111.2 million euros ($130.1 million) to Philips (PHG.AS), Pioneer (6773.T), Asus (2357.TW) and Denon & Marantz on Tuesday for fixing online resale prices.

The European Commission opened an investigation into the four companies in February last year as part of its crackdown against curbs on online sales across-borders, such as restricting offers based on a customer’s location or nationality.

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