Canada Probing Prysmian, Others Over Antitrust Worries

Law360, New York (April 18, 2011, 2:54 PM EDT) -- Canada's antitrust watchdog has begun investigating whether Italian power cable manufacturer Prysmian SpA and its rivals colluded on an undersea project, the company said Friday, adding to the list of international competition agencies probing the industry.

The Canadian Competition Bureau is looking into an alleged agreement Prysmian and other cable makers entered regarding a submarine high voltage project from 2006, the company said, noting that it could face criminal sanctions and fines of up to CA$25 million ($25.8 million) under the country's antitrust laws.

A spokeswoman...
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