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Czech Republic: Regulator lowers fines for construction cartels

 |  February 8, 2016

The Czech competition watchdog lowered fines against seven contruction firms for coordinating bids in several road constructrion tenders, ordering them to pay $68.52 million instead of an initial fine of 2 billion, UOHS said on Monday.

Sweden’s Skanska was fined 529.8 million crowns, Austria’s Strabag must pay 497.6 million crowns, and Eurovia, a unit of Vinci, was fined 492.6 million crowns.

The other four firms fined were Swietelski, M-Silnice, Berger Bohemia and Lesostavby Trebon.

The fines were lowered from the original amount upon appeal, UOHS said.

Full content: Reuters

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