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Shares of Colombia's Aval Plunge Most Ever Amid Odebrecht Probe

  • Death of auditor and his son triggered criminal investigation
  • The group’s bonds had been falling and continued to do so
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Shares in Grupo Aval, Colombia’s biggest banking group, fell the most ever Wednesday following a month in which a bribery investigation into its partner took a series of bizarre turns, spooking investors. The company’s bonds also fell.

Aval’s preferred shares fell as much as 10.6 percent, and ended the day down 6.2 percent, the biggest drop since they were listed in 2011. Its financial subsidiary Corficolombiana plummeted 8.4 percent, extending its lowest levels since 2010.