A PYMNTS Company

Spain: CNMC probe into electric cable sector

 |  July 14, 2015

Spain’s competition authority has carried out several simultaneous raids on the headquarters of major manufacturers and distributors specializing in low and medium-tension electrical cable, suspected of engaging in anticompetitive behaviour such as price-fixing and rigging competitive contract tenders.

The raids are an early step for the investigation, which does not presume the guilt of any of the parties involved. In case evidence is found for anticompetitive practices the next step would be the creation of a Sanction file.

The behaviours mentioned are considered grave infractions, with penalties reaching up to 10% of the company’s sale volume during the period under investigation. The breaking up of cartels is one of the main priorities for the CNMC, given the grave consequences these violations have for consumers and markets alike.

Source: CNMC

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