Leighton Holdings (LEI) shares are already down a massive 8.8% just 40 minutes into today's market open - traders expect Leighton Holdings (LEI) shares to come...

Joanne Ma

Leighton Holdings (LEI) shares are already down a massive 8.8% just 40 minutes into today's market open - traders expect Leighton Holdings (LEI) shares to come under significant pressure on Thursday, following Fairfax Media reports that the company's international empire was rife with bribery, corruption and cover-ups. The damning report which was released overnight by the AFR and SMH, saw shares in Leighton's German parent, Hochtief, suffer their worst fall in more than six-months. Hochtief shares dropped 6.7% to €60.20 on Wednesday night AEST. Hochtief has a 56.4% stake in Leighton, and in turn is controlled by Spanish construction giant ACS. ACS shares also dropped 3.6% to €23.71 overnight. For the full report on the confidential company docs which reveal alleged multimillion-dollar kickbacks in countries such as Iraq, click here: (VIEW LINK)


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Joanne Ma

Joanne Ma

Writer, Livewire Markets

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