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Aveng awaits commission’s findings

Feb 05 2013 07:46 I-Net Bridge

Picture: Lucky Nxumalo/City Press

Company Data

AVENG LIMITED [JSE:AEG]

Last traded 22.81
Change -0.77
% Change -0.03
Cumulative volume 815186
Market cap 8.89bn

Last Updated: 24/04/2014 at 04:20. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Construction group Aveng [JSE:AEG] says it not appropriate to comment on pending investigations into the anti-competitive behaviour in the construction sector by the Competition Commission or other authorities.

“Aveng's view is that the investigation must be completed as soon as possible in order for the industry to move forward. Until the fast track process is complete‚ it would not be appropriate to comment further. Similarly‚ it is not appropriate to comment on pending investigations by the commission or other authorities‚” the company said.

In September 2009 the commission launched a broad investigation into anti-competitive behaviour within the SA construction sector. In February 2011 the commission invited companies to engage in a “fast track settlement” of contraventions of the Competition Act.  

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