July 6, 2011 / 9:52 AM / 6 years ago

EU hits 12 power cable firms with antitrust charges

BRUSSELS, July 6 (Reuters) - EU regulators have charged 12 companies in the power cable industry with price-fixing, the European Commission said on Wednesday.

It did not identify the companies but French cable maker Nexans (NEXS.PA), Italy’s Prysmian PRU.MI and Danish peer NKT Holding (NKT.CO) said earlier on Wednesday they had received charge sheets known as statements of objections from the European Commission, which acts as antitrust regulator in the 27-member EU. [ID:nWEB8535] [ID:nLI539536]

“The Commission has concerns that the producers may have colluded to allocate markets and customers for underground and submarine power cable projects and fix prices in the European Economic Area,” the EU executive said in a statement.

The charges followed raids by the Commission on the companies in February 2009.

Reporting by Foo Yun Chee, editing by Rex Merrifield

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