EU antitrust regulators raid consulting firm in connection with tire cartel investigation

Author: Foo Yun Chee

BRUSSELS (Reuters) – EU antitrust regulators on Tuesday raided a consultancy firm in two EU countries over concerns it may have breached EU cartel rules following January raids on several major tire makers, the European Commission said.

The Commission, which serves as the EU’s competition law enforcement body, did not name the consulting firm.

“The Commission is concerned that the consulting firm may have facilitated or initiated suspicious price coordination between tire manufacturers, who also allegedly used public communication channels to collude,” the EU director said in a statement.

Pirelli, Continental, Michelin, Bridgestone and Nokian Tires confirmed the EU’s January raids.

Companies found guilty of violating EU antitrust rules face fines of up to 10% of their global annual turnover.

(Report by Foo Yun Chee)