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Monday, February 27, 2012

(Reuters) - Finmeccanica denied any wrongdoing over a 560 million euros helicopter deal after Indian authorities launched a corruption probe into the contract which sent shares in the Italian defence and aerospace group reeling.

Shares in Finmeccanica angled as abundant as 8.5 percent to a six-day low. By 1327 GMT, the banal was bottomward 5.6 percent at 3.92 euros, featuring amid the top losers.

Defence Minister A. K. Antony has ordered a delving into the acquirement of 12 helicopters from Finmeccanica assemblage AgustaWestland because of declared irregularities, two defence admiral sources said, crumbling to be identified.

The sources said government admiral could be complex in demography kickbacks for alteration the agreement and altitude of the accord in favour of the company.

"AgustaWestland is not complex in any abnormality apropos the accumulation of helicopters in India. No apprehension accompanying to the investigations has been served," Finmeccanica said.

The delving is a beginning claiming for administrator and arch controlling Giuseppe Orsi who has been tasked with rebuilding the group's acceptability afterwards a bribery delving affected out above bang-up Pier Francesco Guarguaglini.

The state-controlled accumulation is complex in a long-running delving absorption on accusations of apocryphal invoices and bribery funds to pay bribes.

Guarguaglini and his wife Marina Grossi, who was arch controlling of Finmeccanica accessory Selex Sistemi Integrati, are both beneath analysis as allotment of the probe. Both abjure wrongdoing.

Orsi was at the captain of AgustaWestland back the Indian helicopters arrangement was active two years ago.

Italian circadian Il Messaggero said Italian magistrates investigating Finmeccanica's all-embracing operations adduce that amount increases in affairs may accept accustomed the accumulation to set abreast funds acclimated to pay bribes.

Separately, AgustaWestland said the helicopter arrangement had undergone no amount increases and instead it was awarded afterwards the aggregation bargain the amount of its antecedent bid.

The arrangement refers to 12 AW101 helicopters and was awarded to AgustaWestland afterwards a absolute evaluation, it said. Negotiations lasted 17 months to February 2010.

(Reporting By Danilo Masoni; Additional advertisement by Nigam Prusty and Manoj Kumar in New Delhi; Editing by Will Waterman and David Cowell)


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