Philips’ German Office Raided in Employee Probe, Spiegel Says

Royal Philips Electronics NV (PHIA)’s Hamburg, Germany office was raided by police today investigating an employee of the company accused of corruption, Spiegel reported.

A 56-year-old employee is alleged to have sent two public officials invitations to a conference in Dortmund in September, prompting 38 police officers to raid the company’s German headquarters, according to the magazine.

Steve Klink, an Amsterdam-based spokesman for Philips, confirmed that the raid had taken place and said the company was cooperating with the police with their inquiries.

To contact the reporter on this story: Alex Webb in Frankfurt at awebb25@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

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