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EU competition regulators raid consultancy, possibly linked to prior tire industry monopoly case.

TraderKnows
TraderKnows
06-19

Recent news indicates that the EU competition regulators conducted a surprise inspection last week at a consultancy firm involved in the tire cartel case.

Last Tuesday, the EU competition regulators conducted a raid on a consultancy firm located in two EU countries, suspecting it of potentially violating EU antitrust regulations. This action follows a series of inspections conducted in January on several major tire manufacturers, the European Commission revealed.

The Commission did not disclose the name of the consultancy firm involved.

According to a statement from the European Commission, the committee is concerned that the consultancy firm might have facilitated or incited price coordination among tire manufacturers, an activity that allegedly involved the use of public communication channels for collusion.

Pirelli, Continental, Michelin, Bridgestone, and Nokian Tyres have confirmed the January EU inspections.

Companies found in violation of EU antitrust rules may face fines of up to 10% of their global annual turnover.

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