MADRID / MEXICO CITY, May 7 (Reuters) – Spanish construction firm OHL announced Thursday it launched an internal investigation to clarify the facts “alleged malpractices” in the development of their contracts by OHL Mexico, but denied “the existence of any unlawful conduct” in its relations with the Mexican government.
The address OHL said in a statement that the development of their business was strictly in accordance with the law, a contract that was signed, and corporate best practices.
In the stock market, shares of the construction company OHL Mexico recorded its worst drop since mid-November, a collapse that local traders had attributed to the spread of alleged conversations between company executives about the apparent recovery of cost overruns for stretch a local highway.
The Spanish subsidiary of OHL called Wednesday recordings of conversations as an assembly, attributed to a telephone “espionage” and said evaluating legal action.
“The material exhibits an electronic assembly talks broken maliciously and exposed condition of anonymity. It is a clear action that seeks to discredit the company and its officers and confuse public opinion and its investors,” said the company in a statement in Mexico.
In Spain, the statement sent to the CNMV by OHL explained that “these data are based on some recordings obtained illegally.”
A source close to the company said in Mexico is “internal conversations between executives of the company in relation to a strategy of negotiating an agreement in force, has not yet produced absolutely nothing, everything is under negotiation” .
The talks have taken place in January, he said.
In the Mexican market, shares of OHL Mexico lost 11.77 percent on Wednesday to 27.07 dollars, the lowest level since January, before being suspended temporarily.
On Thursday in the Spanish stock market, the matrix fell 8 percent to 18,600 euros.
The broker of the Banco Sabadell Group made a negative assessment of this information and noted that Mexico represented a 74 percent of the gross operating profit of the group. (Reporting by Jesus Aguado in Madrid and Cyntia Barrera and Miguel Angel Gutierrez in Mexico)
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