Spain’s ACS, OHL clash in New York

Next Autumn, a panel of arbitrators will open hearings over the New York dispute confronting Spanish construction giants OHL and ACS, which blame each other for the mismanagement of tunnel excavation costs in their joint venture for a subway project. But its outcome is unfortunately known, already: it is set to please nobody. Least of all investors in both companies, analysts in Madrid say. Works to extend the Long Island metropolitan…