Tire firms Michelin, Bridgestone Corp, Continental AG, and Goodyear Tire & Rubber Co. all confirmed they were hit by European Union antitrust raids over a suspected plot to fix prices, amid a widespread probe that sent shares plunging and could pave the way for massive fines.
The European Commission in Brussels said in a statement on Tuesday that the companies, which it didn’t name, were suspected of being involved in a cartel for new replacement tires for passenger cars, vans, trucks and buses. Italy’s Pirelli & C. SpA andFinland’s Nokian Renkaat Oyj also said they were ...
