News that top brass at EDP have been suspended from their functions has sent the energy giant’s share price tumbling by €475 million.
Says Expresso, the news about executive president António Mexia and director João Manso Neto saw prices fall in “a matter of minutes”.
The pair have long been identified in the corruption probe centring on CMEC subsidies - said to have cost everyday customers in excess of €2.5 billion (click here)
For the time being, EDP has made no statement.
It is understood that the decision by the central court of criminal instruction (TCIC) to suspend both men includes barring them from entering the EDP building, and their posting of as much as €1 million bail each.
These measures were first mooted a month ago (click here)
