Italian Cable Co. Fights UK Utility's £37M Cartel Claim

Law360, London (April 5, 2019, 6:23 PM BST) -- Cable manufacturer Prysmian has hit back at Scottish Power's claim seeking to recover £37 million ($48 million) in losses the British utility allegedly suffered from a power cable cartel that rigged the market for over a decade.

The Italian company said in defense documents filed March 28 at the High Court in London that Scottish Power PLC and its subsidiaries had not suffered any losses by allegedly being overcharged by a cartel run by a group of power cable producers for 10 years from 1999.

Prysmian Group, which used to be part of tire manufacturer Pirelli, was one of 11 producers of underground...

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