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Goldman Sachs, Prysmian, Nexans face EU fines in April - sources
March 21, 2014 / 5:40 PM / 4 years ago

Goldman Sachs, Prysmian, Nexans face EU fines in April - sources

BRUSSELS, March 21 (Reuters) - Goldman Sachs, world No. 1 cablemaker Prysmian, Nexans, and several Japanese peers will be fined by the EU antitrust regulator next month for taking part in a cartel, four people familiar with the matter said on Friday.

The sanctions from the European Commission are the latest action by regulators against price-fixing by cable producers. Authorities in Japan, South Korea and Australia have already levied million-dollar fines for anti-competitive practices.

The United States Department of Justice is also investigating the cable industry.

“The Commission’s decision is expected to come before Easter (April 20),” the people said. (Reporting by Foo Yun Chee; editing by Barbara Lewis)

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