February 10 - Global freight forwarder Panalpina has been served with a Statement of Objections by the European Commission as part of a multinational probe into alleged anti-competitive behaviour.

Several competition authorities, including the European Commission, US Department of Justice and the Swiss Competition Commission, are conducting the probe. 

A number of major freight forwarding companies are being investigated in the probe. In Canada and Australia respective investigations have been closed.

Panalpina said in a statement it will closely examine the Commission's preliminary findings and will respond in due course.

The Statement of Objections enables the addressees to respond to the Commission's preliminary findings and does not prejudge the final decision of the European Commission, which is subject to appeal to the European courts.

While it is not possible to predict the outcome of these proceedings at this stage, they may, however, result in material penalties being imposed on Panalpina entities.