BRUSSELS (AP) -- European Union antitrust regulators said Tuesday they have raided several producers of high-voltage undersea power cables suspected of fixing prices.
Italy's Prysmian said Monday in a statement that it was one of the companies and was cooperating with the investigation.
The European Commission never names businesses that may be involved in cartels until it charges them with breaking EU antitrust rules. It said only that officials had carried out unannounced inspections at the offices of several companies in the sector on Jan. 28-30.
Companies found guilty of fixing prices with rivals can be fined up to 10 percent of yearly global turnover for each year they broke the law. This fine can be increased if a company obstructs an antitrust probe or reduced if it cooperates.