A PYMNTS Company

Spain: Up to €48 bn in losses from lack of competition, regulator finds

By  |  January 24, 2017
Spain: Up to €48 bn in losses from lack of competition, regulator finds

Spanish competition agency CNMC has calculated the excess cost of lack of competition in the country’s public contract bids at 48 billion euros. The agency, concerned over losses in a sector representing over 15% of GDP, has launched a campaign in order to request public officials’ collaboration in improving the contract assignment procedures, as well as improving processes to go after irregularities.

    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.

    The super-agency has held several talks with various government dependencies, creating a list of elements that should be considered when evaluating the possible existence of uncompetitive agreements between companies participating in a public contract bid.

    A few of the elements discussed include the presence of a small number of competitors, incoherent offerings, un-justified similarities in proposals and other suspicious behavior.

    Full Content: Europa Press

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