By Giulia Petroni

Schneider Electric SE, Legrand SA and Rexel SA have received a notification from the French competition authority alleging a potential breach of competition rules concerning pricing.

The companies said on Tuesday that the authority is targeting a price agreement mechanism, alleging that the pricing autonomy of some distributors in the French market have been limited.

The French watchdog's notification is a procedural step and no final assessment has been made yet, according to the companies. It follows up an investigation carried out in 2018.

Schneider Electric said it strongly disagrees with the allegations and will submit a response in due course. Legrand and Rexel said they are both committed to comply with applicable legislation and will exercise their rights within the framework of the procedure.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 06, 2022 04:58 ET (08:58 GMT)

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