Bloomberg and several other outlets are reporting on a price-fixing cartel among power cable producers fined over $400 million by the European Union.
The EU said 11 producers of underground and submarine cables shared markets and allocated customers ‘‘on an almost worldwide scale’’ from 1999 until regulators raided the companies in January 2009. Six European, three Japanese and two Korean producers agreed to avoid each others’ home markets and agreed on price levels and rigged bids for power projects.