“Philips, LG Electronics, Samsung SDI and three other firms were fined a record €1.47 billion by EU antitrust regulators on Wednesday (5 December) for fixing prices of TV and monitor cathode-ray tubes for nearly a decade”
Again, 6 companies have been found guilty for fixing prices of their products.
Executives of Philips, LG Electronics and Samsung SDI agreed to share the markets during meetings ending with a round of Golf.
Two questions remains:
- Why can’t we put all those executives in jail?
- Why can I, as a European Union citizen, request to get back my money in cash?
If we continue the reading, a much interesting fact appears: “…These cartels for cathode ray tubes are ‘textbook cartels’: they feature all the worst kinds of anti-competitive behaviour that are strictly forbidden to companies doing business in Europe…”
We stated months ago that the Council Regulation (EC, Euratom) No 1605/2002 of 25 June 2002 is clear on the Financial Regulation applicable to the general budget of the European Communities (article 93):
1. Candidates or tenderers shall be excluded from participation in a procurement procedure if:…
(b) they have been convicted of an offence concerning their professional conduct by a judgement which has the force of res judicata;
(c) they have been guilty of grave professional misconduct proven by any means which the contracting authority can justify;….”
Last point is clearly proved based on EU Competition Commissioner Joaquin Almunia.
This leads us to a last question: Will the EU administrations disqualify any those 6 companies from future public bidding?