domingo, 29 de novembro de 2015

BTG shares tumble after CEO arrested

Shares in BTG Pactual, one of Latin America's biggest investment banks, plunged by as much as 19 per cent on Wednesday following the arrest of its chief executive.

Andres Esteves, the Brazilian billionaire who transformed BTG Pactual, was arrested by Brazilian federal police early on Wednesday morning, a spokesperson for the bank confirmed, report Pan Kwan Yuk and John Paul Rathbone.

BTG Pactual clarifies that is available to the authorities to provide all necessary explanations and will cooperate with the investigation.

The Brazilian Supreme Court said Mr Esteves was arrested in relation to the corruption probe at state-owned oil company Petrobras.

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