Spain's OHL says Mexico regulator considers sanctions against local unit
MADRID Oct 26 (Reuters) - The Mexican stock market regulator (CNBV) is studying possible sanctions against the local unit of Spanish construction group OHL, the company said late on Sunday, after video recordings released earlier this year allegedly showed executives discussing overcharging on a contract.
OHL Mexico was notified of the possible sanctions against it on Friday following an investigation begun in May, OHL said in a statement sent to the Spanish market regulator. It did not say what the sanctions might involve.
The company said it did not agree with the allegations and had already responded to some of them, adding most of the cases under investigation by the CNBV had already been looked at by its auditors and not considered problematic.
It could not quantify the likely impact of the sanctions process on its reputation, business or results.
The company will hold a conference with analysts at 0830 GMT.
Recordings surfaced on YouTube in the spring that purported to show company executives discussing overcharging for a toll road in the State of Mexico, and paying for a hotel stay by a state official.
OHL Mexico has said the recordings had been manipulated and were part of a smear campaign against it. (Reporting by Paul Day; Editing by David Holmes)
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