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Business

BaFin to Issue Hedge Funds Findings

The German financial sector watchdog BaFin is soon set to publish its findings from the investigation into the role played by hedge funds in the dismissal in May of Deutsche Börse's chief executive officer, the head of the regulatory authority told the Financial Times Deutschland on Friday. BaFin has been looking to find out whether the funds, including London-based TCI, acted in concert to force CEO Werner Seifert first to abandon plans for the German stock market operator to buy the London Stock Exchange and then to quit. BaFin chief Jochen Sanio told the newspaper that the watchdog would issue its final decision in around two weeks. Either the funds would be cleared of the charges, or, if it is found that they did indeed act in concert, they could be compelled to make a public offer to buy out Deutsche Börse's other shareholders or pay a fine, Sanio said.

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