Danish cable maker NKT said Thursday its Czech subsidiary is under investigation by Slovakia's antimonopoly office for alleged anti-competitive practices in the country's cable market.
The authority issued a preliminary finding alleging that past practices by several cable manufacturers violated Slovak and European Union competition rules, according to the company.
The investigation involves a local cable association and 11 manufacturers, and the authority has proposed fines for the parties involved.
NKT said it contests the findings and the basis for the suggested fine and will submit a defense.
The company expects a final decision within six to twelve months and will consider an appeal if the ruling is upheld.
NKT also disclosed that its Czech subsidiary is part of a related, ongoing investigation in the Czech Republic along with five other cable manufacturers.
The new probes come more than a decade after the European Commission fined NKT 3.9 million euros in 2014 for its role in a power-cable cartel.
NKT stated the current matter does not change its financial outlook for 2025.
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