- A price cartel impacted a broad market for cables used in construction, energy, automotive and telecommunications businesses.
- Three companies from Slovakia, six from the Czech Republic, and one industry association are among those fined.
- Slovak and Czech subsidiaries of Austrian SKB avoided penalties by reporting the cartel early.
The Slovak Antimonopoly Office has levied the largest fine in the country’s history, totaling €97.4 million against nine cable manufacturers, suppliers, and an industry association that coordinated their actions. The penalties stem from a price-fixing cartel.
The previous record fine for market manipulation in Slovakia, issued to a consortium of highway construction companies including Strabag and Mota-Engil, was significantly surpassed. That earlier case resulted in nearly €45 million in penalties for six construction firms.
Among the fined cable companies are three based in Slovakia and six in the Czech Republic. Several of these companies are owned by large parent firms from Italy, Denmark, and Poland, which rank among the world’s largest cable producers.
Two additional companies were involved in the cartel but avoided penalties after alerting authorities and providing evidence. These include the Slovak and Czech subsidiaries of Austrian cable firm SKB.
The cables in question, containing copper and aluminum, are used in a variety of sectors including construction, energy, automotive, and telecommunications. The case underscores the widespread impact of anti-competitive practices on essential industries.
The office determined that the companies coordinated to set final cable prices, limiting price competition and potentially leading to higher costs for customers. According to the office, this collusion occurred over a period of 13 years – from 2009 to 2022.
The decision is not yet final, and the companies have the right to appeal.
Who Received the Largest Fines
The largest fine issued to a Slovak company, which employs over 300 people, is
