Goldman Sachs loses legal fight against European Union cartel fine


U.S. investment bank Goldman Sachs on Wednesday lost its fight against an EU cartel fine handed down to its former Italian subsidiary and cable maker Prysmian after Europe's top court said it was liable for the actions of the unit.

Prysmian was fined 104.6 million euros ($127 million) by EU antitrust regulators in 2014 for taking part in a cartel with 10 other cable makers. Its penalty included a joint fine of 37.3 million euros with Goldman Sachs, which had acquired the Italian company via one of its private equity funds in 2005.....

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