Wirecard: share bounces back; an analyst's reaction
(CercleFinance.com) - The Wirecard share is up 9% this morning, following its 25% hit on Friday.
The group has again rejected a press release today, alleging financial irregularities reported by the Financial Times that an investigation by Wirecard into Rajah & Tann, an external law firm, has led to the preliminary finding of forgery and/or falsifications in the group's accounts in one of its offices in Singapore.
Wirecard has rejected this information, describing it as inaccurate, misleading and defamatory. Its statement added, It is not true that Rajah & Tann has discovered serious misconduct by Wirecard employees in accounting practices.
Oddo believes that this case is becoming absurd and binary. Either the FT is wrong (voluntarily guided by other interests or unintentionally based on erroneous information), or Wirecard is really hiding something, the broker said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The group has again rejected a press release today, alleging financial irregularities reported by the Financial Times that an investigation by Wirecard into Rajah & Tann, an external law firm, has led to the preliminary finding of forgery and/or falsifications in the group's accounts in one of its offices in Singapore.
Wirecard has rejected this information, describing it as inaccurate, misleading and defamatory. Its statement added, It is not true that Rajah & Tann has discovered serious misconduct by Wirecard employees in accounting practices.
Oddo believes that this case is becoming absurd and binary. Either the FT is wrong (voluntarily guided by other interests or unintentionally based on erroneous information), or Wirecard is really hiding something, the broker said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.