ECONOMY

Competition Commission raids construction companies in Attica

Competition Commission raids construction companies in Attica

Teams of Greece’s competition authority have been conducting unannounced inspections in the offices of several construction companies in Attica on Wednesday, as part of an investigation into joint ownerships in the construction sector.

In a statement issued Wednesday, 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.

Official announcements by the Commission are expected later in the day.