The Slovak antimonopoly office (PMÚ) has announced a record fine of €97.4 million ($2.4 billion CZK) against ten Czech and Slovak cable manufacturers and suppliers, as well as their association, for engaging in cartel activity aimed at fixing prices of goods. This ruling, disclosed in a press release on Tuesday, is not yet final and may be subject to appeal. Notable companies involved include Prysmian Kabely, Kablo Vrchlabí, Tele–Fonika Kabely CZ, and Kabelovna Kabex, among others. Two additional companies refrained from penalties after providing crucial evidence to the PMÚ regarding the existence of the cartel agreement.

According to the PMÚ, the implicated companies colluded on determining the final prices of copper and aluminum cables, thereby restricting price competition in the market. This collusion is believed to have resulted in increased costs for consumers, impacting multiple sectors that rely on these cables, including construction, energy, automotive, and telecommunications. The investigation uncovered that collusion among these manufacturers hindered the potential for competitive pricing, which could have benefited consumers.