Iceland probes last trades in Landsbanki: report

Tue Oct 14, 2008 3:45pm EDT
 
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REYKJAVIK (Reuters) - Iceland's financial regulator is probing "highly irregular" trading in shares in Icelandic bank Landsbanki before they were suspended and the government took control of the bank, state radio said on Tuesday.

The report, which did not cite sources, said some 17 percent of the bank changed hands on October 3 at about 5 percent more than the prevailing market price. This was the last day the shares traded.

After that, trading in Landsbanki was suspended and on October 7 the state took control and put the bank in administration. State radio said it was not clear who was buying or selling.

(Editing by Toni Reinhold)

 

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