Several competition authorities around Europe are currently focusing on the Danish cable giant NKT, which is the subject of investigations in various countries. This is reported by Børsen. This is because it is suspected of participating in illegal price cartels, which may have triggered artificially high prices for customers.
There are at least cases ongoing in the Czech Republic, Slovakia and Germany, and at the same time a court in the UK is considering a multi-billion lawsuit against NKT together with a number of other European cable companies in these weeks.
NKT's press officer, Pelle Fischer-Nielsen, states in a written comment to Børsen that the company currently has no further comments as long as the investigations are ongoing.
NKT most recently announced back in August that its Czech subsidiary has received a formal "Request Before the Issuing of a Decision" from the Slovak Antimonopoly Office. The investigation concerns suspected anti-competitive behavior in the Slovak cable market.
There are a total of 11 cable manufacturers, which also include a local cable association, which is facing fines.
The Slovak Antimonopoly Office has in its request proposed to issue fines to the companies that are part of the case - including NKT's Czech subsidiary. NKT rejects the authorities' assessments and the alleged violations of the law on which the fine is based, and the company will present its defense in the case.
According to NKT, a final decision is expected within six to twelve months.
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