Amsterdam prosecutors probe Net firm amid allegations of insider trading.
Published:
14 November 2000 y., Tuesday
Amsterdam prosecutors probe Net firm amid allegations of insider trading.
Dutch prosecutors on Monday raided the Amsterdam offices of Internet service provider World Online NV, hoping to dredge up information linked with alleged insider trading at the ISP before its initial public offering earlier this year.World Online, which is expected to merge with Italian ISP and telecommuncations company Tiscali SpA, said it is cooperating with officials from the Dutch government. A source close to the company said the probe should not have any impact on the completion of the Tiscali deal, which was valued at about $4.9 billion when announced formally a week ago.
The raid comes seven months after World Online's former Chairman Nina Brink resigned amid speculation that she had improperly sold World Online stock before the March 17 offering. Brink departed under a cloud of legal action from shareholders who say an undisclosed sale of her 9.5 percent stake for about 6 a share hurt market confidence in the ISP. The stock debuted at 43, but immediately went into freefall.
The prosecutors were discussing alleged insider trading and were seeking documents connected with the matter, said a person close to the company.
In a statement, prosecutors said that the investigation was a criminal one, and confirmed that World Online was cooperating, but said no further details would be released until the investigation was concluded.
Brink declined to confirm or deny that she was a target of the investigation, but said, through a spokeswoman, that her house had not been raided.
Tiscali had no immediate comment on the raid and gave no indications as to whether the investigation might create obstacles for its takeover of World Online.
Šaltinis:
CNNfn
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Statistics Lithuania has calculated that, based on provisional data, FDI in Lithuania in 2009 amounted by 5.3 % more than in 2008. Also, direct investment of Lithuanian enterprises abroad grew by 13.9 % in 2009.
more »
Concerns about foreign fish being sold in Europe and what to do about the future of Europe's fisheries industry were aired in a hearing held by the Fisheries Committee on 8 April.
more »
EU opens public debate on its agricultural policy, the prelude to a major reform in 2013.
more »
The European Commission today launched a €35 million call for eco-innovation projects to be funded under the Competitiveness and Innovation Programme.
more »
Bank SNORAS group company Finasta Holding recruits all funds management and investment companies of the group in the Baltic States.
more »
The European Central Bank (ECB) and the European Commission are jointly holding a high-level conference on financial integration and stability at the ECB’s premises in Frankfurt am Main.
more »
Today, the European Central Bank (ECB) is publishing its fourth Report on Financial Integration in Europe, which notes the return towards integration in the European financial markets.
more »
World Bank Group financial commitments since July 2008, just before the full fury of the financial crisis hit, reached US$ 100 billion today as the institution helped countries respond to and recover from the global downturn.
more »
On March 31, 2010, the Executive Board of the International Monetary Fund concluded the Article IV consultation with Serbia.
more »
The International Monetary Fund and the United Kingdom’s Department for International Development have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project.
more »