Spain’s National Markets and Competition Commission (CNMC) has launched an investigation into potential anticompetitive practices within the country’s corrugated cardboard manufacturing sector.

Between October 6 and October 9, 2026, the antitrust watchdog conducted unannounced dawn raids at the headquarters of several entities operating in the market. The inspections form part of an ongoing inquiry into potential horizontal agreements and concerted practices among industry players.

According to the CNMC, the investigation focuses on allegations that manufacturers reached non-aggression pacts, allocated clients, coordinated pricing strategies, and exchanged commercially sensitive information. The regulator stressed that unannounced inspections are a preliminary step in investigating suspected market distortions. Carrying out dawn raids does not prejudge the ultimate outcome of the inquiry or determine the guilt of the companies inspected.

Should the gathered evidence confirm the existence of illegal market practices, the CNMC will open formal disciplinary proceedings against the implicated firms.

The Spanish enforcement agency emphasized that dismantling cartels remains a top priority due to the harm such practices inflict on consumers and overall market functioning. To encourage market transparency, the CNMC highlighted its leniency program, which allows participating cartel members to claim immunity from financial penalties and avoid bans on public procurement contracts in exchange for providing decisive evidence. The authority also operates an anonymous whistleblowing platform enabling citizens and business insiders to report price-fixing, market-sharing, and other collusive conduct.