German Federal Cartel Office Carries Out Searches At Leoni Sites

Leoni (LEOGN) said Tuesday that searches were carried out at the company sites, as part of investigations by the German Federal Cartel Office into various cable manufacturers and other industry-related companies.

The provider of energy and data management solutions for the automotive industry stated that the reasons for the investigations are suspicions that cable manufacturers could have coordinated the calculation of industry-standard metal surcharges in Germany.

The company noted that it is cooperating with the authorities and will investigate the allegations.

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