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South Africa’s Competition Commission has reached an agreement with Citibank N.A. (C.N) for its role in a forex trading cartel, the anti-trust watchdog said on Monday.
The Commission said in a statement Citi would pay a fine of 69.5 million rand (£4.2 million), less than the 10 percent of South African annual turnover that it said banks would pay because it “undertook to cooperate with the Commission.”
-uk.reuters
