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London
CNN
—
One of Gautam Adani’s biggest international partners, TotalEnergies
(TOT), said Friday that his Indian conglomerate is preparing to appoint a global accounting firm to conduct a “general audit” of its business.
In a statement detailing what it described as its “limited” exposure of $3 billion to Adani Group businesses, the French company said it “welcomes the announcement by Adani to mandate one of the ‘big four’ accounting firms to carry out a general audit.”
Investors have been fleeing Adani’s companies since a US short seller, Hindenburg Research, accused the group of fraud and stock market manipulation last month. Adani has denied the allegations but shares in Adani Enterprises, his flagship firm, have lost more than 60% since they surfaced last week. In total, Adani Group companies have lost $110 billion in market value….
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