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Cops raid Benq over Siemens stain

Did insiders Benq money?
By INQUIRER staff
Wed Mar 14 2007, 08:45
THE OFFICES of Benq in Taoyuan and Taipei were raided by prosecutors amidst allegations of insider trading connected with its acquisition of Siemens' mobile phone unit.

According to Digitimes, the cops believe senior suits at Benq made cash through insider trading three months before the firm announced the Siemens unit was a busted flush.

Those allegations are denied by Benq, which instead claims that prosecutors are interested in bonus payments to employees working abroad.

Now there's speculation that a drop in Benq share prices because of the probe could turn the firm into a takeover target. µ

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