Mercoledì, 19 Settembre 2018

Market regulator bans short-selling of Finmeccanica shares


Milan, February 12 - Italian market regulator
Consob banned short selling on shares of state-controlled
Italian defense and aerospace group Finmeccanica on Tuesday and
Wednesday after the sale price slumped over 13% following the
arrest of company CEO Giuseppe Orsi as part of a probe into
alleged international corruption involving the sale of
helicopters to India.
Trading resumed after a brief suspension around 1.30 pm
local time with shares dropping 7.6% to 4.40 euros.
Orsi was at the helm of Finmeccanica subsidiary
AgustaWestland in 2010 when it won the contract to supply the
The CEO has denied any wrongdoing and said he would only
resign his post if asked to do so by the Italian government.
Prosecutors suspect around 50 million euros of the
over-500-million-euro deal were ploughed back into kickbacks to
ensure AgustaWestland won the contract.

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