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22 Jun 2009
Telco Belgacom is being investigated by market regulators on suspicion of possible insider trading of shares in reseller Telindus.
The Belgian telecoms giant bought the Hampshire-based integrator in 2006 and Reuters reports the deal is subject to investigation. Belgian's Banking, Finance and Insurance Commission (CBFA) indicated the investigation has been ongoing for some time.
The probe has been undertaken by an independent sanctions commission, which will give its verdict in due course. Belgacom has thus far declined to comment on the investigation.
Further reading
The news caps a month of controversy for the telco, after it was fined €66.3m (£55.8m) by Belgium's National Competition Council for "abuse of a dominant market position". On 26 May the council ruled that Belgacom had engaged in price squeezing activity in 2004 and 2005.
The company has indicated it will appeal the ruling. Belgacom is Belgian's dominant carrier and posted 2008 revenue of almost €6bn.
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