DUESSELDORF, Germany—German prosecutors are investigating whether executives of Vodafone Group plc and Mannesmann received illegal compensation from the companies’ US$180 billion merger, according to the Associated Press.
Prosecutors said in a statement they were looking at both Vodafone executive Chris Gent and former Mannesmann executives, including Klaus Esser, for alleged breach of confidence.
Vodafone allegedly paid Mannesmann officials US$70 million after they gave up their opposition to the takeover, with Esser acknowledging he received US$28 million as a golden parachute clause.
German prosecutors investigate executive compensation in Vodafone-Mannesmann deal
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