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UBS says EU fine could cost $100 mln in Q2

BERLIN, May 20 (Reuters) - UBS said a fine imposed on it by the European Commission for anti-competitive behaviour would have an impact of about $100 million on its second-quarter results, adding that it was considering an appeal.

EU antitrust regulators on Thursday fined Nomura, UBS and UniCredit a total of 371 million euros ($452 million) for taking part in a European governments bonds trading cartel.

“This is a legacy issue dating back to 2007-2011 and we have taken appropriate action years ago to mitigate and improve processes,” UBS said. “We note the European Commission’s decision on this matter and are considering an appeal.” (Reporting by Oliver Hirt Writing by Thomas Escritt Editing by Riham Alkousaa)

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