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
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »