The Federal Financial Supervisory Authority (BaFin) has stopped its investigations on suspicion of insider trading in the shares of the car manufacturers Daimler and Aston Martin. "I can confirm that BaFin has investigated the transaction with regard to a possible suspicion of insider trading, but has not found any indications," said a BaFin spokesman. All relevant information has been passed on to the British tax authorities (FCA). The FCA had also found no basis for further investigation, reported the newspaper "Financial Times" (FT).
The Formula 1 boss of Mercedes, Toto Wolff, acquired shares in Aston Martin in April of last year. Daimler, the parent company of Mercedes, also has a minority stake in the British luxury car manufacturer. The following month, Aston Martin appointed former head of Mercedes' AMG business, Tobias Moers, as its CEO. In October, Daimler announced that it would increase its stake in Aston Martin to 20 percent by 2023. Wolff did not know anything about the plans when he acquired the shares, the FT previously reported. The FCA, Aston Martin and Daimler did not immediately respond to a request for comment outside of their regular business hours.