(AFP / PHILIPPE MERLE)
The French industrial cable group Nexans is the target of an investigation by the competition authority concerning the energy sector in Overseas Territories, it announced Tuesday evening in a press release.
“The Competition Authority today carried out searches on three Nexans sites in France”, indicated the group, according to which these searches “are part of an investigation into the cable distribution sector energy in the French Overseas Territories.
The group has indicated that it is “cooperating” with the Competition Authority.
Contacted by AFP, the group did not wish to provide further details.
The Competition Authority did not immediately respond to requests from AFP.
Nexans, the world’s second largest cable manufacturer, has made a strategic shift towards electric cable since 2021, banking on the electrification of the economy, which is gradually causing it to abandon cable activities linked to telephony and data.