BRUSSELS (AP) -- Europe's highest court is lowering the fines France's Alstom and a Siemens subsidiary have to pay for participating in a cartel, but approved the fine for Siemens's mother company.
In 2007, the European Commission, the EU's antitrust watchdog, fined 20 companies €750.7 million for fixing prices for gas-insulated switchgear, heavy electrical equipment used at auxiliary power stations.
The European Court of Justice ruled Thursday Alstom SA's fine should be cut to €58.52 million from €65.03 million, while that for Siemens Transmission & Distribution should fall to €30.15 million from €45.36 million.
However, the court maintained the biggest fine of €396.56 million against Munich-based Siemens AG.
Appeals from several Japanese companies are still to come.