Slovak antitrust authority imposes record €97 million fine on cable companies for price-fixing cartel

Slovakia's antitrust authority has imposed a record fine of €97 million on nine cable manufacturing companies for operating a price-fixing cartel that affected the construction, energy, automotive, and telecommunications sectors. The penalty represents the largest antitrust fine in Slovak history and was levied against three Slovak firms, six Czech companies, and one industry association. The cartel manipulated prices across the broad cable market, affecting multiple industries that rely on cable infrastructure. Two companies - the Slovak and Czech subsidiaries of Austrian firm SKB - avoided penalties by reporting the cartel early to authorities under the antitrust office's leniency program. The Antimonopoly Office, Slovakia's competition watchdog responsible for overseeing fair competition and pricing, announced the unprecedented enforcement action as part of its efforts to crack down on anti-competitive business practices that harm consumers and market competition.