UPDATE 2-Britain's fraud office opens investigation Glencore

Britain's Serious Fraud Office (SFO) has launched an investigation into Glencore concerning "suspicions of bribery," the company said on Thursday. Glencore, one of the world's biggest commodity traders, is already subject to a U.S. Department of Justice inquiry in connection with corruption in the Democratic Republic of Congo, Venezuela, and Nigeria.

The SFO confirmed it was investigating the conduct of business by the Glencore group of companies, its officials, employees, agents, and associated persons, but said it could not comment further on a live investigation. Glencore has said it will cooperate with the investigation.

The company's shares dropped 6% to 223.9 pence following the announcement, pushing it to the bottom of London's blue-chip index. Over the course of this year, Glencore's shares have fallen more than 20%, pressured by broader concerns about safety and sustainability in the Democratic Republic of Congo.

CEO Ivan Glasenberg told investors earlier this week he expected to step down next year once a new management team is in place.

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