Authorities in the United Kingdom are investigating potential antitrust violations involving an unnamed Procter & Gamble Co. subsidiary, the consumer products company said Thursday in a Securities and Exchange Commission filing.
U.K. authorities started their investigation into the unnamed subsidiary in April, and European Commission officials started an investigation in June of potential competition law violations in a variety of countries across the EU, the filing said.
National authorities in Spain and Italy also are investigating potential antitrust concerns, the Cincinnati-based company said in its filing.
"In connection with these investigations, a number of the company's subsidiaries were visited and documents seized," P&G said.
The company or its subsidiaries are also involved in other competition law investigations in Belgium, Romania and Greece, according to the filing.
"We will fully cooperate with any and all investigations," said P&G spokesman Paul Fox, who had no additional comment Thursday night.
The company said it believes all the investigations involve a number of other consumer products companies and/or retail customers. It also said no formal claims have been made against the company or any of its subsidiaries in connection with the investigations.
Competition and antitrust law investigations often continue for several years and can result in substantial fines if violations are found, the company said.
The company did note in its filing that during the fiscal year just ended, certain subsidiaries in Germany received a formal complaint alleging violations of antitrust laws. P&G is discussing the situation with German authorities, the company said.
P&G said it could not predict what financial impact may ultimately result from the probes, but added that the company "has taken and will take reserves as appropriate."
Shares of P&G rose 95 cents, or 1.36 percent, Thursday to close at $71.01.
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