Italy arrests Finmeccanica defence boss in helicopter bribes probe
Tuesday 12 February 2013
The boss of Italy’s biggest defence company, Finmeccanica, and the top executive at its helicopter division, AgustaWestland, were arrested today in a corruption probe.
Finmeccanica chief executive Giuseppe Orsi and AgustaWestland boss Bruno Spagnolini are being quizzed by Italian police over the alleged payment of bribes in the sale of 12 helicopters to India.
The Italian Government has a 30% stake in Finmeccanica and Prime Minister Mario Monti underlined the political sensitivity of the case, declaring: “There is a problem with the governance of Finmeccanica at the moment and we will face up to it.”
Finmeccanica said it had “solidarity” with Orsi, who has previously denied any wrongdoing at the company.
Analysts warned that the arrests would undermine plans for a major restructuring at Finmeccanica and the shares slumped as much as 14%.
Finmeccanica has been dogged by problems. Former chairman Pier Francesco Guarguaglini resigned in 2011 during a previous probe.
Westland, a British helicopter maker which merged with Italy’s Agusta in 2000, was at the centre of a political storm in the 1980s when Tory Defence Secretary Michael Heseltine memorably quit Margaret Thatcher’s Cabinet.
- 1 Frank Lampard's face drops when Holly Willoughby introduces him as a 'Man City legend'
- 2 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 4 The Visit: Trailer for M Night Shyamalan's latest horror film is terrifying
- 5 9/11: Iranian General accuses US of organising September 11 terror attacks
General Election 2015: Tories sack candidate who said she would never support 'the Jew' Ed Miliband
9/11: Iranian General accuses US of organising September 11 terror attacks
General Election 2015: Stephen Hawking says he will vote Labour
Manny Pacquiao begs Indonesia president to spare life of drug smuggler Mary Jane Veloso about to be executed
Yazidi sex slaves undergoing surgery to 'restore virginity' after being raped by Isis militants
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia
HSBC review into moving headquarters from UK 'underway'
iJobs Money & Business
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...
£45K - £55K (DOE) + Benefits: Guru Careers: We are seeking a full stack .NET D...