Teams of Greece’s competition authority have been conducting Dawn Raids in the offices of several construction companies in Attica on Wednesday, as part of an investigation into joint ownership arrangements in the construction sector.
The Hellenic Competition Commission said it is “examining the effects which common ownership/common shareholding in companies active in the construction sector might have on the conditions of effective competition in the market.”
“The significant changes that have taken place in the industry in recent years, combined with the tendering of a large number of major projects with European and public funding, it is imperative to have a thorough investigation of the industry,” according to HCC sources.
Greece’s construction industry has been under scrutiny by the HCC for some time, with Authorities raiding the offices of around 10 large construction companies in connection with an earlier probe into possible offences regarding public tenders in 2015.
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