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4-Traders Homepage  >  Equities  >  Xetra  >  Deutsche Boerse    DB1   DE0005810055

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Deutsche Boerse : Accepts Fine Related to Probe of Alleged Insider Trading

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09/14/2017 | 09:07am CEST

By Ulrike Dauer

German exchange operator Deutsche Boerse AG (>> Deutsche Boerse) said late Wednesday that it has agreed to pay a fine of EUR10.5 million ($12.5 million) related to alleged insider trading by its chief executive and alleged violation of market-disclosure rules.

Deutsche Boerse said it accepted the fine, although it "continues to believe the allegations are unfounded in all respects."

The fine was proposed by a Frankfurt prosecutor as a condition of terminating an investigation concerning Deutsche Boerse CEO Carsten Kengeter and alleged insider trading a few weeks before merger plans with London Stock Exchange (>> London Stock Exchange)were announced.

Part of the fine also relates to an alleged failure to publish an ad-hoc announcement in January 2016 regarding the merger talks with LSE.

A Frankfurt court still has to approve the deal.

Mr. Kengeter bought 60,000 Deutsche Boerse shares worth a total of EUR4.5 million on Dec. 14., 2015, according to an official market-disclosure note.

The merger plans with LSE were announced on Feb. 23, 2016.

Deutsche Boerse also said it will only decide whether or not to extend Mr. Kengeter's CEO contract after German prosecutors and exchange supervisors have ended their respective investigations. Mr. Kengeter's current contract ends in March 2018.

Write to Ulrike Dauer at [email protected]

Stocks mentioned in the article : Deutsche Boerse, London Stock Exchange
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Financials (€)
Sales 2017 2 633 M
EBIT 2017 1 320 M
Net income 2017 885 M
Debt 2017 744 M
Yield 2017 2,75%
P/E ratio 2017 19,09
P/E ratio 2018 16,77
EV / Sales 2017 6,89x
EV / Sales 2018 6,28x
Capitalization 17 399 M
Chart DEUTSCHE BOERSE
Duration : Period :
Deutsche Boerse Technical Analysis Chart | DB1 | DE0005810055 | 4-Traders
Technical analysis trends DEUTSCHE BOERSE
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 97,9 €
Spread / Average Target 8,6%
EPS Revisions
Managers
NameTitle
Carsten N. Kengeter Chief Executive Officer
Joachim Faber Chairman-Supervisory Board
Gregor Pottmeyer Chief Financial Officer
Richard David Antony Berliand Deputy Chairman-Supervisory Board
Hans-Peter Gabe Member-Supervisory Board
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