BMW is not interested in settling EU cartel investigations

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German automaker BMW has no interest in settling an investigations by the European Union antitrust officials against the company and other German automakers, German magazine WirtschaftsWoche reported on Friday, mentioning company sources.

In April, EU cartel regulators had charged BMW, Daimler and Volkswagen for colluding to block the rollout of cleaner emissions technology from 2006 to 2014.

The European Commission stated the collusion occurred during technical meetings held by the “circle of five”, namely BMW, Daimler and Volkswagen Group’s VW, Audi and Porsche.

BMW had stated it would contest the accusations “with all legal means if necessary”, adding that it was probable the Commission would issue a major fine and it would set aside a provision of likely over 1 billion euros.

BMW was not immediately available for discussing about the WirtschaftsWoche report.

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