The Federal Competition Authority (BWB) has discovered price fixing between domestic construction companies. Fines totaling 183.2 million euros have been imposed on the companies. Damaged customers (e.g. federal government, municipalities) are entitled to compensation. The construction industry is now fighting for a blanket settlement with a one-time payment to avoid an avalanche of lawsuits.
It all started with a red folder seized by tax inspectors from a Carinthian construction company in mid-2016. There was concrete data about price agreements within the sector. The BWB subsequently launched investigations and conducted numerous searches starting in 2017.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
