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Banks Disagree With PMU's Decision, Ready to Turn to Courts
Monday 21 December 2009 Zoom in | Print page
Bratislava, December 21 (TASR) - All three Slovak banks - VUB, Slovenska Sporitelna (SLSP) and CSOB - that have been fined by Slovakia's Anti-monopoly Office (PMU) for creating a cartel against Czech company Akcenta CZ disagree with the decision and are ready to turn to the courts, TASR learnt on Monday.
"We reject the decision of the PMU Council, and we're convinced that we didn't do anything illegal. We'll use all legal means possible and will turn to a court with a petition demanding scrutiny of PMU's decision," said SLSP spokesman Stefan Frimmer.
"CSOB is ready to submit a proposal to examine the legality of the PMU Council's decision at a regional court," said CSOB spokesperson Zuzana Francuzova.
According to the PMU's decision, the highest fine should be paid by VUB - €3.81 million, followed by SLSP - €3.197 million, and CSOB - €3.183 million.
"The forbidden behaviour consisted in an agreement on joint procedures by [VUB, SLSP and CSOB] on the cashless operations market in foreign currencies ... Entrepreneurs of VUB, SLSP and CSOB agreed to terminate contracts on current accounts that had been opened in those banks by Akcenta CZ, and that current accounts wouldn't be renewed again in the future," said Vrzgula.
According to PMU, Akcenta CZ represented competition for the banks in cashless foreign currency operations, but as a non-banking institution it was obliged to have accounts in banks in order to carry out such services.
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