Brazil's antitrust body investigates 21 companies for alleged cartel at oil giant Petrobras

December 22, 2015 9:15 PM

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RIO DE JANEIRO – Brazil's antitrust body has opened investigations into 21 companies and 59 executives for an alleged contract-fixing cartel operating at state-run oil giant Petrobras. The agency says contracts totaling about $9 billion are under suspicion.

The investigations follow a criminal probe into bribes and kickbacks at Petrobras that has led to the arrest of key politicians and business executives. Companies that are found liable by the antitrust body might be blocked from public biddings.

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