Following a report in a French investigative news website alleging price fixing between distributors and manufacturers, Sonepar’s corporate office in France released the following statement:
“Following the publication on the Mediapart news website of an article entitled “The Secret Agreement of the French Electricity Giants”, Sonepar wishes to point out that the allegations made in this article are erroneous and distorted and that its commercial practices are in line with competition law.
The Group also wishes to recall that integrity and ethics are at the heart of the collective and individual requirements that it imposes on its employees, and that it has, for many years, adopted rules and set up to prevent the risks, in particular of fraud, and to repress the proven infringements.
Moreover, Sonepar has lodged a complaint against X to-day, since the aforementioned article includes several excerpts from an internal and confidential document, the disclosure of which to a third party may characterize a theft or breach of trust to the prejudice of Sonepar.”
According to Reuters, the allegations claim Sonepar, Rexel, Schneider Electric, and Legrand engaged in cartel pricing, tax fraud, breach of trust, and bribery of public officials.
If found guilty, the companies could face fines reaching into the hundreds of millions of Euros.
Tagged with Biggest News, Sonepar
Wait, let me guess. It’s a witch hunt!