July 6, 2018 / 8:18 AM / a month ago

Philips to set aside $35 million for potential EU price-fixing fines

(Reuters) - Dutch medical device maker Philips (PHG.AS) said it would set aside 30 million euros (26.5 million pounds) to cover potential fines related to a European Commission investigation into online price fixing for some of its products.

The provision would be recognised in its second quarter results due on July 23, the company said.

The Commission is investigating online price setting for consumer electronics products and small domestic appliances in the period from November 2011 to November 2013.

Reporting by Nolwenn Brossier in Gdynia; editing by David Evans

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