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

Reuters

2024/12/12

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))

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