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EU raids monitor makers in cartel probe

09 November 2007, 17:33 CET

(BRUSSELS) - EU competition regulators on Thursday raided unnamed manufacturers of cathode ray tubes in television sets and computer monitors on suspicions they were running an illegal cartel.

"The (European) Commission has reason to believe that the companies concerned may have violated (EU) rules on cartels and restrictive business practices," it said in a statement.

The European Union's antitrust watchdog did not say which companies were targeted by Thursday's action, but Japanese group Matsushita said that one of its subsidiaries had received inspectors.

Such surprise inspections mark a preliminary step in cartel investigations, which the Commission said have no strict deadline and do not mean that a company is necessarily guilty.

EU Competition Commissioner Neelie Kroes is in the midst of a crackdown on cartels and has chalked up more than a billion euros in fines so far this year against illegal clubs that her services have uncovered.

Text and Picture Copyright 2007 AFP. All other Copyright 2007 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.




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