Carsten Kengeter, the chief executive of Deutsche Börse, is being investigated by German authorities over a share purchase he conducted shortly before the company announced a merger deal with the London Stock Exchange Group (LSE).
Kengeter bought shares worth about €4.5m (£3.8m) on 14 December 2015, two months before the German stock exchange operator and LSE announced a £21bn deal, which saw the former’s share price rocket.
A Deutsche Börse spokesman told AFP that while Kengeter had “always been transparent” about his share purchase, the investigators were “studying if there is a possible suspicion of insider dealing”.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Getting Money Wise. The information provided on Getting Money Wise is intended for informational purposes only. Getting Money Wise is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.