03:18 PM EDT, 03/28/2024 (MT Newswires) -- (Updates with details starting in second paragraph.)

Oracle Corp. ( ORCL ) faces a call by South Africa's Special Investigation Unit to the National Treasury to prohibit the company from doing business with the government over an alleged flawed tender, Bloomberg reported Thursday.

Awarded almost two decades ago, the 800 million rand ($42 million) tender was for a system that was to track government accounts, spending and assets, but a working version was never delivered, the unit alleged.

The head of the unit said findings from the interim report will be finalized soon, Bloomberg said. "Legally, we can go ahead with our findings as they are based on evidence," Andy Mothibi, unit head, told lawmakers Wednesday, the report said.

Oracle didn't respond to a request for comment, Bloomberg said.

Oracle didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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