Deutsche Bahn Confirms Rail Pricing Cartel Suit Against ThyssenKrupp

   By Kirsten Bienk 
 

Germany's national railroad company Deutsche Bahn Thursday confirmed it has filed a suit against steel maker ThyssenKrupp AG (TKA.XE) and other companies for alleged participation in a rail pricing cartel.

The Frankfurt court is expected to rule on the amount of any damages in the coming months, a spokesman at Deutsche Bahn said. Media reports peg the amount companies would need to pay to Deutsche Bahn at around 750 million euros ($993.8 million), with the lion's share of that amount coming from ThyssenKrupp.

ThyssenKrupp said Deutsche Bahn has informed the company of the suit, but that it hasn't received the lawsuit yet.

"We have been in talks with DB for several months regarding a settlement and have not given any cause for a suit to be filed at the present time," ThyssenKrupp said in a statement.

ThyssenKrupp assumes the suit has been filed to prevent the statute of limitations from expiring, it added. Further, Deutsche Bahn hasn't specified an amount for the claim, ThyssenKrupp said.

Separately, in July, Germany's cartel office issued fines totaling EUR124.5 million to companies in a probe into whether manufacturers made cartel agreements on the supply of rail to Germany's Deutsche Bahn, to the disadvantage of the railway company.

At the time, ThyssenKrupp said it wouldn't contest the cartel office's fine of EUR103 million.

Write to Kirsten Bienk at [e-mail]

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