November 7, 2017 / 4:30 PM / in 13 days

Italy Antitrust fines 'big four' accounting firms total of 23 million euros

ROME (Reuters) - Italy’s Antitrust authority said on Tuesday that it fined the “big four” accounting firms a total of 23 million euros ($26.61 million) for allegedly conspiring to divvy up large public consultancy contracts, a statement said.

FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo

Deloitte, KPMG, Ernst&Young and PWC “colluded” to win contracts worth a total of 66 million euros, the statement said, “nullifying” the bidding process and “neutralising competition from outside the cartel”.

The fine each company received individually was not provided.

Reporting by Steve Scherer; Editing by Isla Binnie

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