Reuters reported that German railway company Deutsche Bahn is in talks with companies involved in a price fixing cartel to agree damages.

Mr Gerd Becht board member at Deutsche Bahn said that DB is holding intensive talks with companies that participated in the cartel on payments for damages. Around 30 companies were involved in the group, with ThyssenKrupp the main beneficiary.

A spokesman for ThyssenKrupp told Reuters that internal and external investigations were continuing, but declined comment on the amount of a potential cartel fine and compensation.

He added that "We ourselves have informed our relevant customers about possible violations of anti competition laws at a very early stage, and before the summer break."

German authorities said in June 2011 that they were investigating 10 steel and rail track companies, including ThyssenKrupp subsidiary GfT Gleistechnik GmbH, for operating a cartel between 2001 and 2008.

Mr Becht said that "I'm confident we will reach an agreement on compensation payment for damages with one of the companies this year."

He said that a realistic amount for damages resulting from the cartel would be a three digit million euro level.

Austrian metals group Voestalpine said in July 2011 that it had blown the whistle on the scheme and that it expected to escape fines in the investigation.

(Sourced from www.reuters.com)