U.S. Markets

German finance watchdog Bafin investigates potential insider trading at Osram

FILE PHOTO: General view of the headquarters of German lighting manufacturer Osram in Munich, Germany, February 17, 2020. REUTERS/Andreas Gebert

FRANKFURT (Reuters) - Germany's financial markets watchdog Bafin is investigating potential insider trading in Osram OSRn.DE 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 CG.O. 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