It is reported that Austrian steel company voestalpine AG is ready to a pay a settlement to German rail company Deutsche Bahn AG in a dispute over anti competitive practices in the German rail market.

It may be noted that voestalpine is willing to settle the dispute, which also involves German company ThyssenKrupp AG among others, as it hopes to bid in next year's tender to supply Deutsche Bahn with rails. Deutsche Bahn orders more than 200,000 metric tonnes of rail each year.

In July 2011, voestalpine said in a statement that it expected to be exempt from any fines as proceedings by the German authorities looking into possible price fixing were triggered by a leniency application from Voestalpine. Under the leniency program, companies involved in price fixing can be treated leniently if they report such practices to the authorities.

(Sourced from www.handelsblatt.com)