South Africa : S.Africa may probe Didata share move ahead of NTT bid
on 2010/8/21 10:59:29
South Africa

20100820
reuters

JOHANNESBURG (Reuters) - South Africa's market regulator is looking into the share price move of Dimension Data for signs of insider trading in the days before a $3.2 billion takeover bid from Japan's NTT, a senior official said.

"We're looking into the share price moves in relation to the NTT offer," Gerhard van Deventer, an executive director at the Financial Services Board, said on Friday.

"We haven't started (an investigation) yet."

Nippon Telegraph and Telephone Corp said on July 15 it would buy the South African IT firm for $3.2 billion.

The Johannesburg-listed shares of Dimension Data gained 4.8 percent over the three days before NTT made its offer, hitting their highest since 2002 the day before the offer was made.
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