Spain: Authorities detect possible price-fixing in battery market

Inspectors from Spanish competition agency CNMC carried out a series of ‘Dawn raids’ on december 15 and 16, targeting the headquarters of several companies dedicated to the sale and recycling of used batteries. The raids took place after suspicions were raised of possible violations of competition law, including price-fixing, territorial divisions and the exchange of privileged information. The operation included support from competition regulators from each of spain’s autonomous regions, where several companies were located.

Should the investigation find evidence of violations to Spain’s Competition Law the agency may issue a call for sanctions. Price-fixing agreements are classified as a very serious violation of competition law and may lead to fines equivalent to 10% of the company’s earnings for the year prior to the resolution.

Dawn raids are a preliminary step in the investigation process, and do not imply guilt or responsibility for the targeted companies. Those companies now under investigation may come forward and apply for the CNMC’s leniency program, with the possibility of reducing any possible fines that result from the investigation.

Source: CNMC

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.