A PYMNTS Company

South Africa: Towns slap price tag on enduring construction price-fixing scandal

By  |  July 8, 2013
South Africa: Towns slap price tag on enduring construction price-fixing scandal

Despite fines issued to 15 construction firms by South Africa’s Competition Commission, outcry over a widespread price-fixing scandal has yet to die down. Most recently, various towns in the nation announced they are looking for as much as $380 million in compensation from the collusion, which hiked prices of stadium and road construction contracts for the 2010 Soccer World Cup. One association involved in the movement, the South African Local Government Association, said Monday it is looking to claim “as much as we can” from the fined companies; the organization will hold meetings with various companies with intentions of settling the case out of court. The Competition Commission fined construction firms not only for contracts involving the 2006 stadium, but also for contracts of other stadiums, roads and various infrastructure between 2006 and 2009.

    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.

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.