Corruption allegation in UK may hit Alstom

Shares of Alstom India are likely to come under pressure as the UK Serious Fraud Office on Thursday started criminal proceedings against its French parent Alstom SA for alleged corruption related to large transport projects in India and two other countries. Though the SFO statement did not disclose details about the Indian project, earlier reports had indicated the firm was being investigated for alleged instances of corruption in Delhi Metro project work.