| The U.S. Department of Justice and the European Commission have been conducting antitrust and competition law investigations relating to the cable industry, which General Cable Corporation believes relate primarily to the submarine and underground high-voltage cables businesses. The company has not been engaged in the high-voltage submarine cable business. It only recently entered the submarine cable business in March 2009 through its German affiliate, Norddeutsche Seekabelwerke GmbH & Co., which the company acquired in 2007. The company has received requests for information from both the DOJ and the Commission in connection with their investigations. The company has provided documents to the DOJ and responded to their questions. With regard to the European investigation, which, in the case of the company, has been focused principally on its Spanish operations, the company completed its response to the request for information on November 16, 2009. The company may receive further requests for information from the DOJ and the Commission. No wrongdoing by the company or its subsidiaries has been alleged by U.S. antitrust and European Union competition authorities. If any claims were to be made, defending them could involve the company in lengthy proceedings. If the company or its subsidiaries were found to have violated antitrust or competition regulations, the company or its subsidiaries could be subject to fines and claims for damages, which could be substantial. :theflyonthewall.com |
