Turkey market watchdog drops manipulation probe against Mark Mobius

SPK officials said the Turkish watchdog would take no legal action at this time.

Turkey market watchdog drops manipulation probe against Mark Mobius

Officials from Turkish market watchdog on Tuesday said they found no violations of the country's capital markets regulations in a probe against veteran investor Mark Mobius who was investigated over possible market manipulation.

SPK officials said a preliminary investigation launched after appeals from Turkish investors over comments made by Mobius last November who had said that there could be a 15 percent to 20 percent market correction in Turkey by the end of 2010. Comments caused shares to drop 3 percent at the Istanbul Stock Exchange or ISE.

SPK officials said the Turkish watchdog would take no legal action at this time.

Mobius is the head of the Templeton Emerging Markets group that manages 18.8 billion pounds in emerging markets. Mobius is responsible for the Templeton Emerging Markets Investment Trust, one of Britain's biggest investment trusts with a market value of 2 billion pounds.

Mobius has a reported investment worth of at least 623 million pounds in Turkish markets.


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Last Mod: 12 Ocak 2011, 09:30
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