Electrolux to receive Statement of Objections from the French Competition Authority
The French Competition Authority has informed Electrolux that it will issue a Statement of Objections alleging that Electrolux and other appliance manufacturers have acted in breach of antitrust rules in France during the period September 2006 to April 2009.
A Statement of Objections is a formal step in an investigation whereby the Competition Authority informs the concerned parties of its preliminary conclusions. The Statement of Objections does not prejudge the final outcome of the case.
As previously disclosed in Electrolux annual reports, Electrolux became in 2013 the subject of an investigation by the French Competition Authority regarding a possible violation of antitrust rules.
The Authority has thereafter decided to conduct two separate investigations. In one of the investigations, the Authority has now informed Electrolux that it intends to issue a Statement of Objections in March 2018, alleging that Electrolux and other appliance manufacturers have coordinated their prices of large domestic appliances in France during the period September 2006 to April 2009. As for the other investigation, which is still ongoing, the Authority has so far not communicated any conclusions and it is therefore too early to assess to what extent that investigation may affect the Group. Electrolux is cooperating fully with the Authority in these investigations.
The Statement of Objections will be analyzed by Electrolux when received. Given the nature of these investigations, it cannot be ruled out that the outcome could have a material impact on Electrolux financial result and cash flow. At this stage it is however not possible to evaluate the extent of such an impact.
For further information, contact Arba Kokalari, Electrolux Press Hotline, +46 8 657 65 07.
This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 0800 CET on February 7, 2018.
Electrolux shapes living for the better by reinventing taste, care and wellbeing experiences, making life more enjoyable and sustainable for millions of people. As a leading global appliance company, we place the consumer at the heart of everything we do. Through our brands, including Electrolux, AEG, Anova, Frigidaire, Westinghouse and Zanussi, we sell more than 60 million household and professional products in more than 150 markets every year. In 2017 Electrolux had sales of SEK 122 billion and employed 56,000 people around the world. For more information go to www.electroluxgroup.com.