Germany's BaFin To Examine Invesco, MAN Statement
October 07 2009 - 11:32AM
Dow Jones News
Germany's financial services regulator BaFin said Wednesday it
will examine Invesco AIM Management Group Inc.'s (IVZ) announcement
on its stakeholding in German truck maker and engineering group MAN
SE (MAN.XE).
"We will examine the incident and see whether there are
indications for market manipulation," a BaFin spokeswoman told Dow
Jones Newswires. She declined to comment on the possible timeframe
of the investigation.
Earlier Wednesday, MAN said Invesco corrected a statement made
last week following "a calculation error," noting the U.S.
investment firm's stake was actually less than 3% and not 10.4% as
announced Sept. 30.
The initial announcement suggested Invesco had become MAN's
second-largest shareholder after Volkswagen AG (VOW.XE), which
holds a stake of 29.9%. The announcement sparked market speculation
that Invesco could help Volkswagen prepare a takeover of MAN.
Company Web site: www.man.eu
-By Christoph Rauwald, Dow Jones Newswires; +49 69 29 725 512;
christoph.rauwald@dowjones.com