Antitrust Watchdog Fines Construction Supply Cartel £15M
Law360, London (December 17, 2020, 12:01 PM GMT) -- Britain's antitrust watchdog said Thursday that it has fined two companies that supply materials to the construction industry a total of £15 million ($20 million) for illegally colluding to reduce competition and to keep their prices up.
The Competition and Markets Authority said it fined Vp PLC £11.2 million and MGF Trench Construction Systems Ltd. £3.8 million for breaking antitrust rules by sharing confidential information on their future pricing and commercial strategy.
The businesses, which supply groundworks products to large construction companies, also coordinated their commercial activities by monitoring each other's prices and challenging quotes that they believed were too low, the CMA...
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