Italy: Italcementi offices visited in insider trading probe

Bya897204973

Updated Fri, 07 Nov 2014 09:28:32 GMT

Officers from Italy's market regulator Consob and the tax police visited the headquarters of Italcementi on 5 November 2014 as part of an investigation into alleged insider trading, sources close to the matter said, according to Reuters.

According to local media, the inspections, which were also carried out at the offices of Italcementi's main shareholder Italmobiliare, concerned a series of measures taken by the Italcementi group in March 2013 in a bid it made for its French unit Ciments Francais.

A spokesman for Italcementi said that the group hoped that the Consob inspections would not reveal deliberate intention to do wrong. "In the opposite case, the group's management will take firm initiatives to safeguard the interests of the company, which would be the injured party."