On Air Now

Listen

Listen Live Now » 95.5 FM Wausau, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
47° Feels Like: 43°
Wind: SE 8 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Partly Cloudy 61°

Tonight

Mostly Clear 47°

Tomorrow

Mostly Cloudy 68°

Alerts

Audi says faces penalty for anti-competitive behavior in China

MUNICH (Reuters) - Volkswagen 's premium auto unit Audi on Wednesday said it would accept a penalty and change management processes at one of its China units after a regional authority said it had discovered violations of anti-monopoly laws.

"According to investigations of the Hubei Provincial Price Bureau, partial practices in the dealership network of the FAW-Volkswagen Sales Co., Audi Sales Division in Hubei province have violated national Anti-Monopoly laws," Audi said in a statement.

In China, Audi operates under a venture with state-owned automotive enterprise FAW Group Corp <000800.SZ>.

As a result of the Hubei probe, FAW-Volkswagen will accept a penalty, Audi further said in a written statement on Wednesday.

Audi said it was cooperating with authorities and said it could not comment further until the relevant government authorities had concluded their investigation.

(Reporting by Irene Preisinger; Writing by Edward Taylor; Editing by Maria Sheahan)

Comments