Italy: Finmeccanica confirms it has 'no slush funds' anywhere

Rome, 22 Nov. (AKI) - Italian defence contractor Finmeccanica on Monday reiterated it has never used slush funds and it is willing to co-operate in any investigation.

The company said news reports about a corruption probe has had a negative impact on its stock.

"The company confirms that it has no slush funds in Italy or abroad," it said in a written statement.

Italian prosecutors in May announced Finmeccanica is being probed for corruption in connection with foreign bank accounts that may have been used for kickbacks.

Investigators in Rome were alerted to transfers in accounts held by a Finmeccanica unit in Hong Kong and Singapore, news reports said in May. Separately, prosecutors in Naples and Milan are looking into whether government contracts were awarded fairly.


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