The Competition and Markets Authority (CMA) in the UK recently concluded an investigation, finding that 10 construction companies were in violation of competition regulations. In particular, they had been involved in prohibited bid rigging activities. As a result of its findings, the CMA imposed fines on each company.
A combined penalty of £59.3 million has been imposed on the building companies after investigations revealed illegal cartel agreements for demolition and asbestos removal contracts. Further investigation was carried out before issuing the decision.
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Some of the contracts involved the development of Selfridges department store in London, Oxford University, Bow Street Magistrates’ Court and Police Station, and the Old War Office building on Whitehall.
On Thursday, the Competition and Markets Authority reported that illegal activity had been practiced between 2013 and 2018 in London, the Midlands, and South East England. Public and private sector agreements amounting to more than £150 million had been negotiated without following proper procedures.
