The Bundeskartellamt has searched several company locations in Germany on suspicion of illegal price fixing by cable manufacturers.

This was confirmed on Tuesday evening by a spokesman for the authority in Bonn.

There are suspicions in this case among manufacturers of cables and wires as well as other companies or business associations.

The spokesman did not name any companies.

The car supplier Leoni had previously announced in Nuremberg that locations of the Leoni Group had also been searched in the course of investigations by the Cartel Office.

The reason is the suspicion that cable manufacturers are said to have coordinated the calculation of metal surcharges customary in the industry in Germany.

"Leoni AG is cooperating with the authorities and will examine the allegations," the company said.

After the news broke, Leoni shares went downhill.

On the L&S trading platform, the paper lost around 3.5 percent by morning compared to the Xetra closing price on Tuesday evening.

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