German financial regulator Bafin is reviewing whether Christian Wulff, the country’s president, violated capital market rules in the wake of Porsche SE’s failed bid to take over Volkswagen AG, Der Spiegel said.
Wulff may have learned in February 2008 that Porsche was planning the bid and Bafin reviews whether he may have had to disclose that fact to the markets, the magazine reported, without saying where it got the information.
Wulff was prime minister of Lower Saxony and a member of Volkswagen’s supervisory board at the time of the Porsche bid.
Bafin’s press office didn’t immediately return a call seeking comment. Wulff’s attorney Gernot Lehr didn’t immediately reply to an e-mail requesting comment.