Toto Wolff and Lawrence Stroll are under investigation for the purchase of Aston Martin shares. The Mercedes team boss is said to have bought shares in the British brand worth 30 million euros a year and a half ago, but reports suggest that the Austrian may have traded inside information when acquiring 0.95% of the shares in Aston Martin. The role of Stroll senior is also examined.
All of this was reported on Monday by Le Journal de Montreal. The Canadian newspaper said the Federal Financial Supervisory Authority had referred the case to the UK Financial Services Authority for review.
Continue reading
Wolff no longer sees Verstappen as a possible reinforcement for Mercedes
Reason for investigation
What prompted an investigation to be initiated? Wolff bought shares in April 2020 and a month later it was announced that Tobias Moers, coincidentally the previous boss of Mercedes AMG, would become the new CEO of Aston Martin. In addition, it became clear at the end of last year that Mercedes intends to acquire an additional 20 percent stake in Aston Martin in exchange for technological know-how.
These two announcements coincided with a significant increase in Aston Martin’s value. Did Wolff already know about Moers ‘arrival and Mercedes’ additional investment? If so, then Wolff had asymmetrical information that could lead to heavy penalties. In any case, since mid-April 2020 and the time of going to press, Aston Martin shares have risen by more than 60%.
Continue reading
Wolff brings fire into the fire: “The other side does the opposite”
More popular than soccer? F1 recruited a record number of new fans last year
Lips are closed
A Mercedes spokesman assured the aforementioned medium that Wolff was unaware of any additional investments made by his current employer in Aston Martin. “No, we are not aware of any such measures. All necessary disclosures were made to the UK tax authorities in due course, ”he replied. In addition, neither the German stock exchange authorities nor the UK authorities wanted to comment on the above information.
The post “Team boss Mercedes suspected of insider trading” first appeared on monter-une-startup.Did you miss our previous article...
https://formulaone.news/aston-martin/revealed-the-strange-superstitions-alonso-and-ocon-pursue-ahead-of-an-f1-race
