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Saipem weak on the stock exchange, weighs new investigation

The stock slips in Piazza Affari (in contrast with the Ftse Mib) after the news of a new corruption investigation conducted by the Milan prosecutor's office.

Saipem weak on the stock exchange, weighs new investigation

Weak Saipem in Piazza Affari, where in the mid-morning the group's shares recorded a drop of 0,13%, among the few negative trends in the Italian list. According to the operators, it is the new corruption investigation conducted by the Milan Public Prosecutor's Office, which was reported by the same company on Wednesday evening. 

In particular, Saipem announced that it had "received from the Milan Public Prosecutor's Office notification of guarantee information and a request for documentation in the context of a new criminal proceeding, for the alleged crime of international corruption, opened by the offices courts in Milan in relation to a contract awarded in 2011 by the Brazilian company Petrobras to Saipem SA (France) and Saipem do Brasil (Brazil)".

Saipem underlined that it is "paying maximum cooperation to the investigations" and that it has "already started in June 2015 in-depth internal checks, which are still ongoing". The company would be challenged under law 231 for the lack of control over the work of its managers.

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