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Ahold Shares Drops Amid Fears of Deeper Investigation

AMSTERDAM - As it battles an accounting scandal, Ahold's share value fell as much as eight percent this morning due to new fears that a probe at its U.S. Foodservice unit would unveil more problems, according to Reuters.

The Dutch retailer's shares, which are down 69 percent since first disclosing that the Columbia, Md.-based foodservice division overstated earnings by at least $500 million, declined 3.3 percent to 3.26 euros after falling as low as 3.10, making the stock Amsterdam's biggest blue chip loser.

In other Ahold news, this morning's Wall Street Journal reported that the ongoing investigation of the company might widen to include major U.S. food companies Sara Lee Corp. and ConAgra Foods Inc.
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