Babcock's Italian Subsidiary Loses Appeal Against EUR51 Million Fine.
(Alliance News) - Aerospace and defence firm Babcock International Group PLC said Tuesday its subsidiary Babcock Mission Critical Services Italia Spa has lost its first instance appeal against a fine of EUR51 million from the Italian Competition Authority.
BMCS Italy is right now considering its position for a further appeal, the company added.
The Italian regulatory body fined BMCS Italy, as well as seven other companies, in respect of a publicly available tariff list produced by a trade association of which BMCS Italy was a member.
BMCS Italy said it does not understand the basis of the decision, arguing that the tariff list did not apply to any of the services the subsidiary provide.
In particular, the subsidiary claimed that the list never related to the helicopter emergency medical services, and that its lack of relevance was stated on the front of the list from 2012, before BMCS Italy was acquired by Babcock in 2014.
Lastly, the ICA did investigate the possibility of bid rigging related to the helicopter emergency medical services, but found that there was no basis for such allegations.
"BMCS Italy considers compliance with antitrust laws to be of the highest priority. BMCS Italy also notes that the ICA reduced the fine imposed upon BMCS Italy to reflect the quality and robustness of its antitrust compliance programme. BMCS will continue to service its existing contracts and to compete for future tendering opportunities," the group stated.
Shares in Babcock International were up 1.6% at 401.20 pence on Tuesday in London.
By Dayo Laniyan; firstname.lastname@example.org
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|Date:||May 19, 2020|
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