ZF English

Competition Council gives green light to snitching on business partners

14.06.2010, 20:55 32

The Competition Council has granted the first 'pardon' in thecase of a cartel type agreement, by forgiving someone involved inthis deal, which he subsequently denounced. This type ofarrangement called 'conditional offer', initiated in September2009, involves telling on partners involved in serious deals thatbreach competition rules, thus benefitting from total or partialabsolution from the part of the Council, depending on how soon yougo to competition inspectors. "You come to us with elements thatcan help us catch others, and we do not punish you. Pardon can betotal, if you come first, or partial, namely we cut your fine by50%, if you come second. For the time being, we have struck thefirst agreement of this type," Bogdan Chitoiu, chairman of theCompetition Council, told ZF yesterday. The Council's fines can goas high as 10% of a company's turnover. The biggest fine theCouncil imposed related to a cartel-type price fixing agreementamong the main cement producers in Romania, Lafarge Romcim SA,Holcim (Romania) and Carpatcement Holding SA. The fine topped 28meuros. This happened in 2005.

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