Deutsche Boerse has paid €10.5m in fines for prosecutors to stop an investigation into both the its CEO Carsten Kengeter and the firm's alleged role in insider trading.
According to the Telegraph, the probe revolved around whether Kengeter bought shares in Deutsche Boerse while his company was in secret talks with the London Stock Exchange (LSE).
Prosecutors launched the investigation at the start of the year, which involved raiding his home and office in February for evidence on whether his €4.5m purchases of Deutsche Boerse stock in December 2015 were "in the knowledge of previously unpublished contract negotiations".
Deutsche Boerse and the LSE both said the merger talks began in January 2016 and produced statements in February confirming the start of discussions.
Talks between the LSE and Deutsche Boerse broke down after the move was blocked by the European Commission in March amid concerns over "competition".
However, prosecutors have argued the firms were in talks from as early as the summer of 2015, which would mean Kengeter had knowledge of the potential merger and Deutsche Boerse failed to disclose market-sensitive information ahead of the statement it issued in February.
The exchange has agreed to pay the €10.5m fine however, it said it "does not share the public prosecutor's view concerning the accusations raised", according to the Telegraph.
The firm added it "assumes" the investigation into Kengeter will now be closed, subject to conditions.
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