Article: Hungary watchdog fines seven banks, Visa, Mastercard for price fixing.

Article from:
ADP News Southeast Europe
Article date:
September 25, 2009
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(ADPnews) - Sep 25, 2009 - Hungary's competition authority GHV has imposed a HUF-1.92-billion (USD 10m/EUR 7m) fine on seven major banks, Visa (NYSE:V) and MasterCard (NYSE:MA) for participating in a price-fixing cartel, Portfolio writes.

GHV said the companies -- US General Electric's (NYSE:GE) Budapest Bank, OTP Bank (PINK:OTPBF), MKB Bank, owned by German Bayerische Landesbank AG, CIB Bank, part of Italian Intesa Sanpaolo (BIT:ISP), Austrian Erste Bank (WBAG:EBS), K&H Bank, unit of Belgium KBC ...

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