Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

PMÚ confirms fine for ČSOB

THE COUNCIL of the Antitrust Office (PMÚ) has upheld a fine for ČSOB bank, a decision the office issued last October. The bank will have to pay nearly €3.2 million for its participation in a cartel agreement on non-cash foreign exchange operations. The decision became valid on April 11, the SITA newswire reported.

THE COUNCIL of the Antitrust Office (PMÚ) has upheld a fine for ČSOB bank, a decision the office issued last October. The bank will have to pay nearly €3.2 million for its participation in a cartel agreement on non-cash foreign exchange operations. The decision became valid on April 11, the SITA newswire reported.

“We take note of the decision, but do not identify with it,” ČSOB spokesperson Zuzana Eliášová said, as quoted by SITA, adding they consider their next steps.

The case pertains to a dispute between three Slovak banks (ČSOB, Slovenská Sporiteľňa and VÚB) and Czech company Akcenta from 2007. The banks allegedly signed a cartel agreement based on which they coordinated their steps regarding the termination of contracts with Akcenta and agreed they would not sign any new contracts with the firm. Akcenta subsequently accused the banks of trying to push it out from the foreign exchange market through unethical means. The Czech firm also said the banks abused their position in the market and hindered their possible rivals in entering the Slovak market, SITA wrote.

In its actual decision the PMÚ dealt only with the participation of ČSOB in the agreement, since the Supreme Court had already issued decisions for the other two banks. The court dismissed their complaints and confirmed the PMÚ’s verdict from 2009. Slovenská Sporiteľňa was fined €3.2 million and VÚB €3.8 million, as reported by SITA.

Top stories

Press freedom is bleeding across our borders

Critical media are always the first targets of populists and press freedom enemies.

I have met dozens of people possessed by Satan, exorcist claims

An exorcist can help a believer to escape their problems but not to solve them, psychiatrist Hunčík says.

Priest and exorcist Ľuboš Václavek consecrates the office of Erika Jurinová (OĽaNO).

End of investigative show a cause for concern

Media freedom watchdogs believe the scrapping of the only investigative show on public-service television is a threat to its independence.

Jaroslav Rezník

Slovakia is 26th on the Employment Flexibility Index

Higher work surcharges will push Slovakia down.