German finance watchdog Bafin investigates potential insider trading at Osram

FRANKFURT (Reuters) – Germany’s financial markets watchdog Bafin is investigating potential insider trading in Osram shares prior to a statement of the German lighting group on July 3, 2019, it said on Tuesday.

Reuters had reported that day that Osram’s supervisory board was to discuss a takeover offer from private equity firms Bain and Carlyle . Osram confirmed the report hours later.

“We are investigating whether there has been insider trading in Osram stock prior to the July 3, 2019 announcement,” a Bafin spokeswoman said.

Osram did not immediately have a comment.

(Reporting by Hans Seidenstuecker, writing by Kirsti Knolle; editing by Riham Alkousaa)