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GVH closes investigation of land appraisal companies

Hungary's Competition Office (GVH) said it closed an investigation of land appraisal companies on suspicion of cartel activity after finding no evidence of anything illegal.

GVH launched the investigation in June of ANZsÓ 2001 Szolgáltató és Kereskedelmi, FHB Ingatlan, Landimpex Szolgáltató és Tanácsadó and Patria CONSULT Gazdasági Tanacsadó és Vagyonkezelő. GVH said at the time that it suspected FHB Bank's real estate unit FHB Ingatlan and the other companies had colluded in tenders to appraise property called by Hungary's National Asset Management Company (MNV) in 2009 and 2010.

GVH had six months to complete the investigation. (MTI – Econews)