It all comes out in time…

It all comes out in time…

Several of South Africa's top construction firms have been accused of colluding over contracts in the run-up to the 2010 football World Cup.

The country's Competition Commission has referred four companies to the Competition Tribunal.
It claims they acted in concert when bidding for contracts to build stadiums for the tournament.
South Africa spent 20bn rand ($2bn; 1.4bn euros) building and revamping 10 stadiums for the 2010 World Cup.

The firms that have been referred to the tribunal are WBHO, Group Five, Stefanutti and Basil Read.

'Collusive tendering'
The move by the Competition Commission paves the way for possible prosecutions.
The Commission said the firms involved all deny the allegations.
"They have denied collusive tendering, but we have evidence that they were involved in such behaviour," said Mava Scott, the spokesman for the Competition Commission.
"These firms colluded when bidding for tenders… by, among others, allocating tenders among themselves and agreeing on profit margins to be achieved from these tenders," the Commission added in a statement.

Eric Winton

Director, New Millennium Business

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