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Spain fines 15 companies $133 million over rail contracts cartel

Posted On: Mar. 28, 2019 6:19 AM CST

Train crossing a viaduct in Spain

Spain's competition regulator has fined 15 companies including Germany-based conglomerate Siemens A.G. and France-based Alstom S.A. €118 million ($133 million) for rigging public rail contracts, Market Watch reported. The regulator said that the companies operated three separate cartels to manipulate Spanish rail infrastructure company ADIF-Alta Velocidad's contracting process over a period of 14 years.

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