Nexans, Prysmian Win Court Bid Against EU Cable Cartel Raids
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Prysmian SpA and Nexans SA partly overturned a European Union decision ordering antitrust raids that seized swathes of company documents, a ruling that may clip the wings of the bloc’s competition regulator in future probes.
The EU General Court, the bloc’s second-highest tribunal, today partly annulled decisions by the European Commission from 2009 to raid the companies over their alleged roles in fixing prices for undersea and underground high-voltage power cables, saying the scope of its information-gathering was too wide.