Kopper's questions

19 January 2006 By Nina Koeppen

If correct, did this influence Deutsche s decision to sell a E1.4bn block of Daimler shares? The German press says Daimler’s chairman is suspected of having passed information about CEO Schrempp s impending resignation to Deutsche.

This content is for Subscribers only

Context News

German prosecutors are investigating DaimlerChrysler's supervisory board chairman Hilmar Kopper on suspicion of insider trading, Tomke Beddies, a spokeswoman at the Stuttgart prosecutor's office, told breakingviews. According to German law, insider trading includes the passing on of insider information, Beddies explained.

Stuttgart prosecutors had launched an investigation against Kopper in January, but last week passed on the inquiry to prosecutors in Frankfurt. Officials there are currently investigating as to whether the case falls within their remit, Beddies said.

A spokeswoman at the Frankfurt prosecutor's office confirmed that they had received a case relating to possible insider trading from their Stuttgart colleagues.

Stuttgarter Zeitung, the newspaper of Daimler's home town, meanwhile reported that the inquiry relates to Daimler's announcement that chief executive Juergen Schrempp was resigning. Kopper, a former chairman of Deutsche Bank, is suspected of having given Josef Ackermann, the bank's chief executive, advance warning about Schrempp's departure, Stuttgarter Zeitung wrote.

The spokeswoman at the Stuttgart prosecutors' office said that it had not opened an inquiry into Deutsche Bank.

DaimlerChrysler and Deutsche Bank both declined to comment. Kopper's spokesperson was unavailable for comment.

Context News

Email a friend

Please complete the form below.

Required fields *