EU court upholds EU fines on Akzo, Elf Aquitaine
BRUSSELS, Sept 30 (Reuters) - Europe's second-highest court on Wednesday upheld European Union antitrust fines against Dutch chemical group Akzo Nobel (AKZO.AS: Quote, Profile, Research) and French oil group Elf Aquitaine for illegally sharing markets and fixing prices.
The European Commission, the EU executive, imposed an 84.3 million euro ($122.8 million) fine on Akzo Nobel and its Dutch and Swedish subsidiaries in January 2005 for taking part in a cartel for a chemical used in making detergents, pharmaceuticals and food.
Elf Aquitaine and its Arkema subsidiary received a 58.5 million euro penalty.
The Court of First Instance reduced the fine imposed on German chemicals firm Hoechst by 10 percent to 66.63 million euros. (Reporting by Foo Yun Chee, editing by Will Waterman) ($1=.6863 Euro)
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