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GVH investigates land appraisal companies on suspicion of cartel activity

Hungary's Competition Office (GVH) on Wednesday said it carried out unannounced on-site investigations at real estate and farmland appraisal companies on suspicion of cartel activity.

GVH carried out the investigations at the offices of ANZSO 2001 Szolgáltató és Kereskedelmi, FHB Ingatlan, Landimpex Szolgáltató és Tanácsadó and Patria CONSULT Gazdasági Tanácsadó és Vagyonkezelő.

GVH said 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 has six months to complete the investigation of the companies, but it may extend the deadline twice, by as long as six months both times. (MTI-ECONEWS)