The French market watchdog is investigating possible insider trading relating to Wendel SA (MF), France’s largest publicly traded investment firm, Le Point reported, without saying where it got its information.
Autorite des Marches Financiers is looking into the increase in Wendel’s share price that followed the company’s announcement in November that it had entered exclusive talks to sell Deutsch Group SAS to TE Connectivity Ltd. (TEL), the magazine said on its website yesterday. Separately, the Ministry of Finance is pursuing tax fraud complaints targeting Wendel chairman Ernest-Antoine Seilliere and 13 current and former executives, according to Le Point.
Barbara Frugier, a spokeswoman for AMF, and Christine Anglade Pirzadeh, a spokeswoman for Wendel, declined to comment.
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