BMW not keen in settling EU cartel investigations

Germany’s BMW has no interest in settling an investigations by the European Union antitrust authorities against the company and other German carmakers, German magazine WirtschaftsWoche reported yesterday, citing company sources.

In April, EU cartel regulators charged BMW, Daimler and Volkswagen for colluding to block the rollout of cleaner emissions technology between 2006 and 2014.

The European Commission said the collusion took place during technical meetings held by the “circle of five”, namely BMW, Daimler and Volkswagen Group’s VW, Audi and Porsche.

BMW had said it would contest the allegations “with all legal means if necessary”, adding that it was probable that the commission would issue a “significant fine” and it would set aside a provision of likely more than €1 billion (RM4.58 billion).

BMW was not immediately available for comment on the WirtschaftsWoche report.