Picture: Lucky Nxumalo/City Press
Johannesburg - Shares of South African construction
companies such as Stefanutti fell on Monday after reports they colluded to fix
prices for state and other contracts worth at least R30bn.
It was reported on Sunday that Stefanutti
Stocks Holdings [JSE:SFP] executives had made several statements to investigators and prosecutors
that admit they may be guilty of corruption and racketeering.
Wilson Bayley Holmes - Ovcon [JSE:WBO] said on Monday it was in
confidential talks with competition authorities about a number of projects but
refuted reports that it had engaged in any criminal conduct.
Stefanutti stocks had lost 6% to R10 at 07:47 GMT, while
WBHO was down 3.7% to R148.69. Basil Read [JSE:BSR] fell 3.6% to R11.18.
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