Belgian regulator FSMA has asked incumbent Belgacom to explain why it did not tell the market sooner that its CEO had been indicted of passive private corruption.
Belgacom CEO Didier Bellens came under suspicion last June, relating to a transaction…
Belgian regulator FSMA has asked incumbent Belgacom to explain why it did not tell the market sooner that its CEO had been indicted of passive private corruption.
Belgacom CEO Didier Bellens came under suspicion last June, relating to a transaction under the group’s property division ConnectImmo in 2005. But Belgacom only announced this fact on 28 July after a report detailing the indictment was published by local paper La Libre Belgique.
In Belgacom’s announcement, the group explained in a brief statement: “The Board of Directors immediately decided to initiate an internal investigation by the Audit and Compliance Committee.
“Based on their report the Board comes to the conclusion that the interests of Belgacom were fully protected.”
However, the FSMA has sent a letter to Belgacom to ask why it considers the information concerning Bellens to be privileged, a spokesman confirmed.
Belgacom and the FSMA were unable to comment before the press deadline.
