German financial watchdog investigating carmakers 'cartel'

Frankfurt

GERMANY'S financial regulator confirmed on Monday that it is investigating whether Volkswagen and Daimler failed to notify investors properly following reports that they informed cartel authorities of secret talks with other carmakers that could amount to collusion.

Regulators "are examining whe-ther VW and Daimler respected their duty to inform markets following their allegedly reporting themselves to the authorities", a spokesman for the Federal Financial Supervisory Authority (BaFin) said, confirming a report from German business daily Handelsblatt.