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GVH fines Tessanderlo Ft 131 mln

Hungary's Competition Office (GVH) decided yesterday to fine Belgian fertilizer maker Tessanderlo Ft 131 million for operating a cartel in Hungary with Finnish peer Kemira, online business site reported. Kemira does not have to pay any fine, because it informed GVH of the cartel. In 2003 GVH introduced a leniency policy, similar to that in the EU, which allows companies operating in cartels to escape punishment if they inform the authorities. Tessanderlo also received a reduction in its fine after it agreed to cooperate with GVH. The two companies were found to have colluded on the Hungarian market since the early nineties.