The European Commission's competition authority launched the case with raids on the companies more than five years ago. It can fine wrong-doers up to 10 percent of their global turnover for breaching EU rules.

"The Commission's decision is expected to come before Easter (April 20)," one of the sources said.

Authorities in Japan, South Korea and Australia have already levied million-dollar fines against cable companies for anti-competitive practices, and the United States Department of Justice is also investigating the industry.

Goldman Sachs (>> Goldman Sachs Group Inc), which acquired Italy's Prysmian (>> Prysmian SpA) via one of its private equity funds in 2005, declined to comment. It has since sold its holding. Prysmian, which makes cables for the power and telecom industries, declined to comment. The company has made a 199-million-euro ($274.27 million) provision for a possible fine.

World No. 2 cablemaker Nexans (>> NEXANS), which set aside a 200-million-euro provision three years ago for a possible fine, said it did not have any information as to when the European Commission would give its ruling or what the ruling would be.

A spokeswoman for Nexans said the last exchange the company had had with the European Commission dated from late 2013, at which point it had not been informed of any fine or when a ruling would come.

The European Commission spokesman for competition policy, Antoine Colombani, also declined to comment.

The sources said that Swiss engineering group ABB (>> ABB Ltd.) alerted the cartel to the Commission, and would not face sanctions. The Swiss engineering group declined to comment.

The sources said the other cablemakers expected to be penalised include Japanese cable firms Exsym Corporation, J-Power Systems Corporation and Viscas Corporation, and Korean peer LS Cable & System (>> LS Corp.).

J-Power Systems is controlled jointly by Hitachi Metals Ltd (>> Hitachi Metals, Ltd.) and Sumitomo Electric Industries . (>> Sumitomo Electric Industries, Ltd.). Mitsubishi Cable Industries is a shareholder in Exsym.

It was not clear if Danish industrial group NKT Holding (>> NKT Holding A/S), South Korean firm Taihan Electric Wire (>> Taihan Electric Wire Co Ltd) and General Cable Corp (>> General Cable Corporation) which received the EU charge sheet in July 2011, will face fines.

($1 = 0.7256 Euros)

(Additional reporting by Massimo Gaia in Milan, Natalie Huet in Paris and Katharina Bart in Zurich; editing by Sophie Walker)

By Foo Yun Chee