Shares plummet at Impregilo as it faces investigation into false accounting practices in Italy.
Shares in Italian contractor Impregilo fell 38% today after it emerged the firm was under investigation for false accounting practices. Reports from Italy said that suspects include the group's chairman Paolo Savona and chief executive Pieriorgio Romiti. The company has said it drew up its balance sheet correctly.
The firm's shares were suspended yesterday after the new of the probe emerged, but dropped heavily when were back on the Italian Stock Exchange today.
The firm's shares fell sharply earlier this year due to concerns about its finances, in a market made nervous by the multi-billion -euro fraud at Italian food group Pamalat.
Impregilo has recently entered the UK construction market, emerging last month as one of three bidders for a new PFI hospital in Plymouth.
