Siemens, Alstom Wrapped Up In Brazilian Cartel Probe

Law360, New York (July 15, 2013, 6:17 PM EDT) -- Siemens AG, Alstom SA and Bombardier Inc. confirmed Monday that they were among the companies being investigated by Brazil's antitrust watchdog as it looks into a possible bid-rigging plot among companies in the rail industry.

Brazil's Administrative Council for Economic Defense, or CADE, raided the headquarters of 13 companies on July 4 based on suspicions of a plot to rig bids for train car sales and for rail maintenance and construction contracts.

On Monday, Germany's Siemens, France's Alstom and Canada's Bombardier all said they were cooperating...
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