OHL Mexico accused of irregular toll hikes

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OHL Mexico accused of irregular toll hikes

OHL Mexico has been accused of irregularities regarding alleged misconduct in the development of its contracts in the country.

The accusation was based on taped alleged phone conversations. The conversations, that supposedly involve senior OHL Mexico executives, appeared to show wrongdoing in connection with a 30 % hike in the toll to use the Viaducto Bicentenario.

On 7 May the Mexican Stock Exchange temporarily suspended the trading of OHL Mexico's shares due to the volatility in the trading of the company's shares that resulted from the accusation.

The firm released a statement stating that it conducts its business and that of its affiliates under the strictest adherence to the laws, its contracts and best corporate practices. It expressly denies the existence of any irregular behavior in its relationship with the State of Mexico.

Later Mexico State Governor Eruviel Ávila accepted the resignation of the communications secretary of the central state of Mexico. Mr. Ávila stated:

"The Comptrollership Secretariat determined that regarding the communications secretary, Apolinar Mena Vargas, different principles established in Mexico state's Law on the Duties of Public Servants were not observed."

Pablo Wallentin, an OHL Mexico executive, also resigned after being implicated in the scandal.

On May 20th OHL Mexicco launched an audit to verify that the operations carried out for construction and operation of Viaducto Bicentenario and Circuito Exterior Mexiquense, as well as their modifications, have complied with the applicable legislation.

The firm has hired KPMG Cárdenas Dosal, S.C., Jones Day México S.C. and FTI Consulting, Inc.

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