EADS top executives questioned in AMF insider trading probe - report |
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Wed, 23 May 2007 12:38
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PARIS (Thomson Financial) - Key figures at EADS, including co-chairman Arnaud Lagardere, are being questioned by the French financial markets regulator AMF, as part of a probe into alleged insider trading, Le Monde reported without indicating its sources.Arnaud Lagardere, whose company Lagardere is a key shareholder in EADS, is to be questioned May 29, the paper reported, while former co-chairman Manfred Bischoff is to be questioned this Thursday.Co-chief operating officer Jean-Paul Gut, meanwhile, faced questioning yesterday, Le Monde said.According to the paper, the AMF is investigating sales by top executives of millions of euros worth of shares in EADS last spring, just before the announcement of major delays to the superjumbo A380 sent the stock price tumbling.Gut, who reportedly made a profit of 1.15 mln eur on the sale of shares, told the AMF hearing yesterday he had informed EADS of his intention to sell the shares back in January 2006 and had been given the impression that the A380 delays were 'under control,' Le Monde said.No-one at the AMF was available to comment on the report.vicky.buffery@thomson.comvb/hjpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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EADS unions, managers to be questioned by French Senate committee in May 