economic crime authority

Metro trade rally examined for possible crime

The trade rush in shares of media company Metro last week will be examined by the Swedish Economic Crime Authority, reports business daily Dagens Industri.

The Friday rally saw the share price rise by 24 percent in half a day before the Stockholm Stock Exchange halted trade, citing lack of coherent information available to traders, according to the news agency TT.

By Monday, the Kinnevik group, already the main shareholder in Metro, put forward a bid for a larger portion of the newspaper. Already on Friday, an anonymous market analyst quoted by the news agency Reuters had speculated that the rush could be related to rumours of a sale of the free morning paper.

A spokesperson for the Economic Crime Authority declined to specify which crime it was investigating when contacted by Dagens Industri.