South Africa construction conglomerate Group Five said Wednesday that it has warned shareholders of a “contingent risk” of civil claims and possible fines lodged against the company following a report by the Competition Commission that found evidence of anticompetitive behavior by the company.
While no claim against Group Five has been filed yet, the company said that shareholders have been advised of the risks and added that it is cooperating with competition authorities.
Group Five said it is working to settle the matter with the Commission, but “a lack of evidence and factual discrepancies” have delayed the process.
Reports did not elaborate on the exact behaviors the Commission claimed were performed by Group Five that were considered to be anticompetitive.
Full content: SA Commercial Pro News
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