Investigations going forward
The truth is out there” some would say!
Following all the commotion which happened last year due to the bid by a Swiss company on EuroDisney (which misserably failed through in the wingspam of a butterfly) the German stock market regulator BaFin said today it had opened an inquiry into the purported bid for Disneyland Paris operator Euro Disney.
BaFin spokeswoman Anja Neukoetter said: “There is suspicion of market manipulation. This is what we will be looking into,”.
The Swiss registered Center-Tainment company last november announced plans to make an all-share offer for Euro Disney at a news conference in Paris but the actual bid never materialised after France’s stock market regulator ruled that any offer must be in cash given that Center-Tainment was quoted only on a junior, unregulated foreign market.
Center-Tainment’s share price was 20 Euros in november and has now fallen to 4 cents.
Funny thing (if funny is the word to be used) is that from the begining of the bid “or tentative bid” reports where not understanding who/what/where this bid was going for as it seemed like a crazy (or cover up) scheme for something else.
The BaFin spokeswoman said the not so funny thing that market manipulation is punishable in Germany by fines or prison sentences, depending on how much measurable movement there was in share prices, the BaFin spokeswoman said.
More as soon as it comes out
