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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Crédit Agricole    ACA   FR0000045072

CRÉDIT AGRICOLE

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FCA Bank to Challenge Italian Competition Watchdog Decision

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01/11/2019 | 08:46am EDT

By Alberto Delclaux

FCA Bank SpA said Friday that it will challenge the decision by Italy's competition watchdog to fine it over an alleged violation of competition rules in connection with a car-financing cartel.

FCA, which is a joint venture between Credit Agricole SA (ACA.FR) and Fiat Chrysler Automobiles, was fined 178.9 million euros ($206.3 million) by the competition authority for participating in a cartel that ran between 2003 and 2017.

"FCA Bank believes that the charges brought against it in the decision have no merit and will challenge the decision before the competent administrative court," it said in a statement.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
CRÉDIT AGRICOLE -0.38% 10.47 Real-time Quote.11.45%
FIAT CHRYSLER AUTOMOBILES 1.93% 14.78 Delayed Quote.0.28%
FIAT CHRYSLER AUTOMOBILES 2.02% 13.034 End-of-day quote.0.74%
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Financials (€)
Sales 2019 20 171 M
EBIT 2019 7 410 M
Net income 2019 4 078 M
Debt 2019 -
Yield 2019 6,61%
P/E ratio 2019 7,65
P/E ratio 2020 7,23
Capi. / Sales 2019 1,49x
Capi. / Sales 2020 1,45x
Capitalization 30 126 M
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Number of Analysts 19
Average target price 13,9 €
Spread / Average Target 32%
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Managers
NameTitle
Philippe Brassac Chief Executive Officer
Dominique Lefèbvre Chairman
Jérôme Grivet Chief Strategy Officer
Eric Baudson Head-Group Information Systems
Laurence Dors-Meary Independent Director
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