MUNICH/LISBON (dpa-AFX) - The Portuguese antitrust authority has initiated proceedings against two subsidiaries of laboratory specialist Synlab. In the room are possible violations between 2016 and March 2022 against competition law, as the SDax-listed company announced on Wednesday after the stock market closed in Munich. The share came under pressure on Thursday.

The stock fell by a good four percent to 11.18 euros, bringing up the rear in the SDax small-cap index. According to a trader, the move by the competition authority in Portugal is negative for Synlab, but it does not justify a drop in the share price. "The accusations are country-specific and limited to activities of the two subsidiaries in this country," he said, explaining his assessment.

In addition to Synlab, other medical diagnostics providers operating in Portugal and an industry association are involved, the company added. Details were not provided. The group could not comment on the outcome of the case or the risk of a possible fine before this review was completed, it said./ngu/men/mis/jha/