BLOM Bank Purchase Rumors
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This is where authorities in any "normal" country would start getting suspicious and would call up insider-trading laws and investigations.
Too bad in Lebanon its the authorities who are probably doing the insider trading! [And by authorities I mean those in both/either political camp(s) - corruption is, after all, a non-discriminating affliction]
Fantastic Observation!
"And by authorities I mean those in both/either political camp(s) - corruption is, after all, a non-discriminating affliction"
There is always a problem of leakage of news in the region from companies that some parties always take advantage of. Insider tradign is rife across all the MENA region and very few people ever get cauht. Hearty :)
Emirati people were trying to buy a lot of shares from the market to be able later on to vote out the board of directors and take over the bank.
In order to prevent this, the management started also buying their own shares from the market... that's why the stock price has skyrocketed! Add Comment
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