Business
OFT Announcement
OFT Announcement.
About this update from Morgan Sindall Group Plc
[{"type":"text","content":"\n Morgan Sindall PLC\n17 April 2008\n\n\nMorgan Sindall plc\n\n\nOFT Announcement\n\n17 April 2008\n\nMorgan Sindall plc (the Company) notes today's announcement by the Office of\nFair Trading (OFT) that it has issued a Statement of Objections (SO) to a number\nof construction companies in England in connection with its investigation into\nalleged infringements of UK Competition law in the sector.\n\nThe Company can confirm that the SO states that one of its wholly-owned\nsubsidiaries, Morgan Ashurst plc (formerly Bluestone plc), has been\nprovisionally found to have infringed UK Competition law by giving or receiving\ncover prices in respect of historic tenders. Morgan Sindall plc will be\ncarefully considering the contents of the SO and will be replying to the OFT in\ndue course.\n\nThe Company and its subsidiaries take seriously their obligations under UK\nCompetition law and have taken steps to improve their processes to ensure\nongoing compliance in this area.\n\nPending further steps in the proceedings and until a final decision has been\ntaken by the OFT in this matter, the Company will refrain from any further\ncomment. However, it can confirm that Morgan Ashurst plc has co-operated with\nthe OFT's investigation under the OFT's leniency policy and, as a result, has\nbeen provisionally granted a reduction in any penalty which the OFT might\nultimately impose.\n\nEnquiries:\n\nBlythe Weigh Communications\n\nPaul Weigh 020 7138 3208\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]