A PYMNTS Company

UK’s Watchdog Fines 10 Building Firms For Bid-Rigging

By  |  March 23, 2023

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    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.

    Related: UK’s CMA Launches Market Study Into Competition In Housebuilding

    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.