Mexico: COFECE looking into Steel cartel

Mexico’s Federal Commission for Economic Competition (Cofece) announced a probe into public tenders for steel suppliers. The probe was launched upon receiving complaints about alleged monopolistic practices in the sector.

The agency indicated that the expenditure on public procurement is approximately 10 percent of the country’s Gross Domestic Product (GDP). From 2013 to date, the agency said, it has investigated eight cases related to possible collusion.

The Cofece explained that the deadline for this investigation is of up to 120 business days, starting from August 15, 2017, which may be extended for equal periods up to four times.

Full Content: El Siglo de Torreón

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