Ebioss slides on report of false accounting
19/08/2014 16:17
** Shares in Spanish energy firm Ebioss EBI.MC slide 31
percent after website El Confidencial says the company, which
trades on Spain's alternative stock exchange MAB, has falsified
accounts of a Portuguese company it bought in June.
** Ebioss, a Bulgaria-based holding company that converts
urban waste into gas, strongly denied in a statement on Tuesday
having inflated figures at Portugal's TNL, in which it acquired
a 52 percent stake for 1.6 million euros in June.
** However, investors are concerned about the quality of
Spain's stock market supervision, particularly for companies on
the MAB following the collapse of wireless provider Gowex
GOW.MC last month. ID:nL4N0QF0AS
** "(Ebioss's share fall) shows that Gowex is casting a long
shadow over the MAB," a Madrid-based trader says.
(Reuters Messaging rm://jose.rodriguez.reuters.com@reuters.net)
Keywords: MARKETS EUROPE STOCKSNEWS/EBIOSS ENERGY