German automaker BMW has acknowledged the possibility of an upcoming "significant fine" issued by European Union antitrust regulators. The news comes after BMW was named alongside Volkswagen and Daimler, accused of colluding to purposely stymie the progress of emissions reduction in vehicles sold throughout Europe."[F]ollowing its review of the Statement of Objections, the BMW Group will recognise a provision, which is likely to exceed €1 billion," said the automaker in a press statement. At the time of writing, BMW's cash reserve for the fine equates to around $1.13 billion.
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