Shares of French construction giant Vinci lost 20% of their value yesterday after a sophisticated internet hoax spread panic in the market.
Vinci’s share price plummets on 22 November (Vinci)
Their value lost $5bn after Bloomberg and other media outlets reported that the company had fired its chief financial officer following accounting irregularities worth several billion euros.
For more international stories visit the CIOB’s global construction website GCR
The company seems to have been the victim of a plot to crash its share price, apparently as a political protest against its activities in France, Russia and Qatar.
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