Australia's Downer EDI, Ventia fall as regulator launches civil proceedings

Ventia Services

12/12/2024 24:44

(Updates Ventia's price moves, ASX top loser)
    ** Shares of Downer EDI  DOW.AX  fall as much as 3.3% to
A$5.520, their lowest since Nov 1
    ** The Australian Competition and Consumer Commission (ACCC)
has started civil proceedings against units of Downer and Ventia
Services  VNT.AX  for price-fixing services at the Department of
Defence bases
    ** ACCC also alleges that the cos made attempts to control
prices for estate maintenance and opearation services for
defence department
    ** Shares of Ventia Services down as much as 8.14% to
A$3.95, hitting their lowest level since July 5
    ** VNT Sees its worst trading day since June 5, 2023
    ** YTD, Downer and Ventia stocks have risen 29.8% and 36.9%,
respectively, as of last close

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))