The CEO of world-leading tube
maker Tenaris, Paolo Rocca, is under investigation in Argentina
for his alleged involvement in alleged payments made by the
group in 2008 to an Argentine government official, the company
said Wednesday.
Tenaris shares plunged 8% on the news.
The board confirmed "its full support for its chairman and
CEO."
It said it was "monitoring the situation together with its
lawyers".
Tenaris is a leading supplier of tubes and related services
for the world's energy industry and certain other industrial
applications, according to its website.
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