France’s stock market regulator, the AMF, has closed its investigation into the intense speculation surrounding Danone’s share price last summer. The commission set up to examine the investigation’s findings has concluded that no evidence of a breach in stock market regulations had been found.
The “Danone affair” captured the headlines in the French press in July 2005, bolstered by rumours that PepisiCo was poised to bid for the French giant which provoked a general outcry from political leaders.
The object of the AMF’s investigation had been to verify that none of the interested parties had knowingly spread information that was inaccurate and misleading as well as ascertaining that no insider trading or manipulation of Danone’s share price took place.
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