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Swiss construction firms probed for price fixing

The Swiss Competition Commission (Comco) has opened an investigation into six firms suspected of fixing prices for tenders in the Swiss canton of Jura. +Get the most important news from Switzerland in your inbox For several years, these companies were alleged to have colluded in public and private tenders for civil engineering and building work, the federal authority explained in a press release on Thursday. The proceedings, which generally take up to two years, are designed to determine whether an illegal bidding cartel exists, the competition watchdog said on Thursday. This type of cartel causes prices to rise, makes companies inefficient and hinders innovation, the statement said. In recent years, Comco has conducted several investigations into bidding cartels. The six companies involved are presumed innocent. How we work We select the most relevant news for an international audience and use automatic translation tools to translate them into English. A journalist then reviews ... Full story here Are you the author?
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