Oslo Stock Exchange Probes Manipulation Cases

Oslo’s stock exchange, striving to clean up its image, said Monday that it was investigating two cases of suspected share price manipulation worth several million dollars, and it said other similar deals may have taken place.

Bourse spokesman Vidar Ullenrud said details of the trades involved had been passed to the Bank and Securities Inspectorate, which will consider whether criminal charges should be filed.

Ullenrud said the two deals, struck at the beginning of June, involved selling blocks of stock at a higher price than that quoted on the exchange. Such a move could not only manipulate the market, but also bring reductions in the tax paid on share profits.