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Olympic organizers say agreement reached with G4S

Updated: February 12, 2013, 10:31 AM ET
Associated Press

LONDON -- The organizers of last summer's London Olympics said Tuesday that security firm G4S has agreed to take a hit of 85 million pounds ($133 million) over its failure to meet the terms of its contract.

Organizers had to scramble to provide military personnel and other extra security after G4S admitted it could not provide all of the 10,400 security guards it had promised for games venues.

The two sides have been in talks over a final settlement for the 240 million-pound security ...

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