Tenaris down sharply after survey in Argentina



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Tenaris-logoBlack Wednesday for Tenaris (-7.08% to 10.9 euros) which recorded the worst performance of the day at FTSEMib.

The company announced that the Argentine judiciary had opened an investigation into possible cases of corruption among important figures of the previous government; The investigation, which also concerns the subsidiary Techint Group for the year 2008, also includes the president and CEO of Tenaris, Paolo Rocca. The company reiterated its full support to the leader and confirmed Paolo Rocca to the positions held by the company.

In the daily communications published by Consob, we learn that on November 27, AQR Capital Management revised up the short position on Tenaris, from 1.91% to 1.2%.

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