Bid-rigging: Connaught relaxed after being included in OFT list

Connaught has given a stiff rebuttal to its name being included in the list of 112 firms allegedly involved in bid-rigging activities, including cover pricing, announced by the Office of Fair Trading (OFT) last week.

Speaking to the Financial Times as part of the firm's interim results announcement yesterday, chief executive Mark Davies said the mention of Connaught in the OFT’s list was “not a serious issue for the business”.

“Our involvement relates to three small tenders in a subsidiary dating back to 2000. We don’t believe this will become a serious issue for the business,” he said.