By: Reuters
Dec 06, 2019
The UK’s Serious Fraud Office (SFO) has launched a bribery investigation into Glencore (GLEN.L), adding to legal troubles that have hit the shares of one of the world’s biggest miners and commodity traders.
The SFO said on Thursday it had opened an investigation into suspicions of bribery in the conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons in June. It declined to comment on the scope of its inquiry.
The London-listed shares of Glencore, which has operations in over 150 countries, fell 9% to 216.9 pence, their lowest level in more than three years, knocking 2.6 billion pounds ($3.3 billion) off the company’s market value.