Glencore finds facts that “may be relevant” to corruption probes
Miner and commodities trader Glencore (LON: GLEN) has found
certain facts that “may be relevant” to the probes it’s facing and has shared
them with regulators, the company’s auditor said.
Deloitte, which conducted the audit overview of Glencore’s
annual report, say it had “identified facts” that may help authorities progress
on the multiple, but separate alleged corruption and bribery investigations
targeting the Swiss company.
The ongoing probes in the UK, the US and Brazil, have scared
investors and shaken the company over the past two years.
Today’s news is likely to increase pressure on chief
executive officer Ivan Glasenberg. He told investors last month to prepare for
more leadership changes and hinted that his own departure may come sooner than
previously anticipated.
“The group is continuing to co-operate with the various regulatory
and enforcement authorities on further subpoenas and information requests
received,” chairman Tony Hayward said in the report.
Last month, Glencore reported its first annual net loss
since 2015 after taking a $2.8 billion impairment charge to reflect the closure
of its African copper business.
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