The OFT has issued a formal Statement of Objection against 112 companies across the construction sector as part of the biggest ever Competition Act Investigation.
The OFT has formal alleged that the companies have been involved in rigging bids and collusion between bidders, leading to local authorities and other losing money. The allegation also says that a smaller number of comapnies have acted as a cartels, with the winner of the bidding process making payments to other tenderers.
While no official assumptions have been made about infringement of competition laws, we can expect this to play out very publically and claim a number of victims.