Brazilian antitrust body pushes for convictions in train tender case
Brazil’s antitrust authority Cade has recommended that a court convict 16 companies and 52 individuals over allegations that they were involved in forming a cartel to fix bids for public train contracts across central and southern Brazil. Cade said in a statement on Wednesday that the companies, which include units of Mitsui & Co, Bombardier and Alstom, could pay up to 20% of gross revenue if convicted, while individuals could pay fines of 50,000-2-billion reais ($13,000- $514m). When it launched the probe in 2014, Cade had said the cartel allegedly began in 1998 and its members had divided up tenders between themselves and “pretended there was competition, but had agreed previously on the prices of their bids”. The antitrust authority said the scheme included bids for metro and commuter trains in the cities of Sao Paulo, Brasilia, Porto Alegre and Belo Horizonte. Cade’s conclusions add to a list of corruption accusations that Brazilian authorities levelled against companies in a ra...
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