- Equipment rental group Vp is among three UK companies that have been found in breach of competition law.

In provisional findings, the Competition and Markets Authority said the three businesses, which all supplied the construction industry, 'formed a cartel to reduce competition and keep prices up'.

The other two businesses were MGF (Trench Construction Systems) and Mabey Hire.

Vp said it was reviewing the provisional findings and would continue to cooperate fully with the regulator.

'The group will make further announcements as appropriate,' it added.

According to the CMA, the cartel behaviour involved sharing confidential information on pricing and commercial strategy and coordinating commercial activities.

The CMA also stated that Vp and MGF operated the cartel for periods totaling nearly two years and Mabey took part for a single period of five months.

The regulator said it was alerted to the situation after one of the companies blew the whistle on the activities.

'The CMA will carefully consider any representations made before issuing its final findings as to whether the law has been broken,' the regulator said.

At 8:30am: [LON:VP.] VP PLC share price was -59p at 961p

Story provided by