BRUSSELS, May 17 (Reuters) – The EU antitrust watchdog said on Tuesday that it has raided companies in the fashion industry in several European Union countries on concerns that they may be taking part in a cartel.
The European Commission did not name the companies nor the countries.
“The companies concerned may have violated Article 101 of the Treaty on the Functioning of the European Union and Article 53 of the European Economic Area Agreement, which prohibit cartels and other restrictive business practices.” the EU competition agency said in a statement.
It also quizzed companies in the sector for information but did not name them. Companies found guilty of breaching EU antitrust rules risk fines as much as 10% of their global turnover.
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Reporting by Foo Yun Chee
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