Tuesday, 27 February 2007

Foul play

Finland has in recent studies been one of the top countries with the least corruption, but still many Finnish companies have recently faced both charges and convictions about forming prize-fixing cartels and taking advantage of monopolising the market making secret agreements with their fellow competitors.

The latest now is a Finnish elevator manufacturer that has been fined to pay 142 million euros by the European council for having formed a prize cartel together with a couple of other elevator manufacturers in the European countries. Earlier, last year, a Finnish paper mill was charged in the US for fixing prices on glossy magazine FrontPage-paper.

Guess this is not bribing but foul play anyway, is it not?

And as it happens among Finnish companies that are supposedly uncorrupted, how widespread is it really in the real world?!?

Now with the globalisation of business?

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