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Brazil antitrust tribunal to hear cable cartel case

Bnamericas Published: Monday, February 11, 2019
Brazil antitrust tribunal to hear cable cartel case

Brazil's antitrust regulator Cade recommended condemning six firms for creating a cartel in the underground and underwater power transmission cables market.

The companies – leading global cable producers Exsym, LS Cable, Nexans, Prysmian, Taihan Electric Wire and Viscas – are accused of operating a cartel from the 1990s until July 2004, affecting electricity distributors.

The cable manufacturers are accused of setting prices and exchanging information that affected competitiveness. The scheme has also been investigated in other regions, such as Europe, Australia and Japan.

The case will now be heard by Cade's tribunal. If the firms are condemned, fines can be up to 20% of revenue. Two individuals could also be charged in relation to the scheme and ordered pay fines of 50,000 to 2bn reais (up to US$530mn).

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