Synlab drops as Portugal's competition watchdog probes into local units

Synlab AG

05/01/2023 07:35

** Shares of Synlab  SYAB.DE  slide 6.5% in early Frankfurt
trade after German laboratory services group announced
proceedings of Portuguese competition authority against its
entities on Wednesday  urn:newsml:reuters.com:*:nFWN33P16I
    ** The Portuguese competition authority has initiated
proceedings against two Portuguese entities of Synlab Group and
has associated the company with the proceedings regarding
potential violations of competition law in Portugal, Synlab says
    ** It concerns the operations in the Portuguese market for
laboratory diagnostics between 2016 and March 2022, it adds
    ** "Surely negative", a local trader says, but adds the
slump in shares "seems overdone as allegations are
country-specific and are limited to some operations of the two
subsidiaries in the country"
    ** "Potential impact of the competition investigation likely
limited," Deutsche Bank says
    ** The stock is at the bottom of the German small-caps index
 .SDAXI 
 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))