OSLO (Thomson Financial) - The Oslo Bors this morning confirmed it has seen evidence of the 700 mln usd bid for DNO's Iraqi oil assets, an approach which some unnamed bondholders had suggested was aimed at talking the firm's share price higher.
A spokesman for the Oslo Bors said: 'While we do not define it as a bid, we have no doubts about the about the validity of the approach in question.'
Last week the Norwegian stock exchange said it was looking into possible share price manipulation, after DNO's share jumped more than 11 pct on news of a rejected 700 mln usd bid for its Iraqi oil and gas assets from an unnamed oil firm.
The Oslo Bors spokesman however added that the exchange was still looking into other issues brought up by the bondholders, and particularly what motive they had for raising their concerns. alastair.reed@thomson.com ar/ajb COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.