EU Commission in Euribor derivatives antitrust raids

Reuters

The European Commission said on Wednesday it had raided several firms active in financial derivative products linked to Euribor, the interbank euro lending rate, on suspicions of a cartel in the market.

The Commission said in a statement it was concerned the companies involved may have violated EU antitrust rules prohibiting cartels and restrictive business practices.

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The Commission, which acts as anti-trust regulator in the 27-state European Union, did not identify the companies or the member countries where it had carried out the raids.

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