French antitrust probe could materially impact Electrolux’s financial statements

In the multi-year investigation, anitrust authorities in France have alleged that Electrolux along with other large white goods home appliance makers have collaborated to fix prices of their appliances.

On Wednesday, Electrolux stated antitrust authorities in France are set to take the next step in the multi-year investigation of the Swedish company and other home appliance makers over their conduct from 2006 to 2009, which breached anti-trust rules.

With the news reaching the markets, shares of the white goods maker were down by 2% to 3%.

While not ruling out that the outcome of the investigation could significantly impact its financial results, including cash flow, Electrolux stated it became the subject of investigation in France in 2013.

Electrolux further disclosed, antitrust authorities in France are likely to issue their objections in March alleging that appliance makers, including Electrolux collaborated in fixing the prices of large domestic appliances in the country.

“Electrolux is cooperating fully with the Authority in these investigations,” said Electrolux in a statement.

Advertisements


Categories: Creativity, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: