German prosecutors probe possible insider trading by Deutsche Boerse CEO
Frankfurt — German prosecutors said on Thursday they were investigating how far merger talks between Deutsche Boerse and the London Stock Exchange had advanced by the time Boerse’s chief executive bought €4.5m worth of shares in his company. Carsten Kengeter bought the stock in December 2015 as part of a management remuneration programme, just over two months before the merger talks were publicly announced. The Frankfurt prosecutor’s office said it suspected that Kengeter already knew about the possibility of a merger when he bought the shares, which would constitute insider trading under German law. "The initial suspicion results from talks held by the management of Deutsche Boerse and the London Stock Exchange between July/August and December 2015 that centred on a possible merger of the two companies and the question of where the holding company could be based," the Frankfurt prosecutor’s office said in a statement on Thursday. There was no immediate comment from Kengeter. Deutsc...
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