Report12.14.06, 3:51 AM ET
PARIS (AFX) - The European Commission is expected next Wednesday to impose fines on Areva, Alstom and Schneider Electric for forming a cartel in gas insulated switchgear, Les Echos reported, without naming its sources.
Other companies likely to be fined include ABB Ltd , Siemens AG , Mitsubishi and Hitachi, the business daily said.
Gas insulated switchgear is used to regulate flow of electric current and is bought mostly by state-owned power companies and local authorities, with private companies amounting to about a quarter of the market, the report said.
The commission's expected action follows raids on the companies in 2004.
The size of the fines remains unknown but the sanctions are likely to lift the value of the anti-cartel fines imposed by the commission this year to above 2 bln eur from 1.8 bln up to the end of November, Les Echos added.
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