Spain slaps $148 million fine on rail cartel involving Siemens, Nokia

MADRID: Spain’s competition watchdog has fined eight companies including Siemens, Nokia and ACS a combined 127.3 million euros ($148 million) for allegedly rigging public contracts relating to rail-signalling systems.

Between 2002 and 2017 the companies acted as a cartel to ilegally share out contracts valued at 4.1 billion euros awarded by national rail-infrastructure operator Adif, the CNMC watchdog said on Friday.