Two Former Ferrostaal Managers Charged in Bribery Probe
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Two former managers of Ferrostaal AG were charged by Munich prosecutors with paying bribes to obtain submarine orders, a move that may add to doubts over Volkswagen AG’s goal to merge truckmaker MAN SE, which owns a stake in Ferrostaal, with competitor Scania AB.
The prosecutors have been probing Essen, Germany-based Ferrostaal since 2009 to determine whether it bribed officials for contracts. Talks with Ferrostaal to settle the matter have failed, Barbara Stockinger, a spokeswoman for the prosecutors, said today by telephone.