It emerged last week that prosecutors in Milan have concluded their investigation into the role played in the collapse of Italian dairy giant, Parmalat by several national and international banks.
According to the Associated Press, the probe focused on possible market-rigging activity undertaken by Nextra, Deutsche Bank, Citibank, Morgan Stanley, Credit Suisse First Boston, and UBS.
The AP revealed, however, that both Morgan Stanley and UBS denied any wrongdoing in their dealings with Parmalat. The other banks were reportedly unavailable for comment.
Around 20 indictments are expected as a result of the investigation, the Milanese authorities announced on Thursday.
.Tags: Italy | Italy
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