From April 2020 to today the value of the shares of Aston Martin rose by 60%. A growth that will undoubtedly make shareholders smile and among these there are also Toto Wolff and Sebastian Vettel. The Mercedes team principal is one of the investors of the first hour given in April 2020 in the middle of the pandemic, he formalized the purchase of a package equal to 0.95% of the shares of Aston Martin by investing just over 40 million euros. This move by Toto Wolff on the stock market, however, according to reports from Le Journal de Montreal now is under the magnifying glass of the European stock exchange authorities they are analyzing if the extremes of a insider trading, or the purchase and sale of securities of a particular company by persons who, due to their position within the company or their professional activity, have come into possession of confidential information that is not in the public domain.
One month after the formalization of the purchase of the shares by Toto Wolff, in fact, in May 2020, Aston Martin announced the appointment of Tobias Mœrs, who had previously been head of Mercedes’ AMG subsidiary, as CEO of the brand now owned by Lawrence Stroll. In October, then, six months later, Aston Martin announced an agreement with Mercedes under which the latter increased its stake in Aston Martin to 20%, an agreement that also includes exchanges of technologies. These two significant events obviously coincided with a surge in the value of the shares of Aston Martin and the German stock market regulator – BaFin – starting from November 2020 he began to retrace and analyze the purchase by Toto Wolff of Aston Martin shares suspecting precisely that there are the extremes of insider trading. BaFin has transferred the case for further review to the Financial Conduct Authority (FCA) in the UK, as Aston Martin shares are listed on the London Stock Exchange.
Did Toto Wolff know when he made his investment that Mercedes AMG number one Tobias Mœrs was about to join Aston Martin? Did you know that Mercedes was planning a new investment in the British company? The Canadian newspaper reached out to the communications manager of the Brackley team, Bradley Lord, who stressed that he was not aware of any investigation into this matter and that all necessary information was provided to the UK authorities in due course.
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