Nov 26, 2006

SIEMENS UPDATE

German prosecutors said they have uncovered 200 million euros ($257 million) in suspicious transactions, 10 times the amount they said they had uncovered last week, The Wall Street Journal reported in its online edition. German authorities also said they jailed two more employees of Siemens''s telecommunications unit, bringing to six the number of people under arrest, according to The Journal, and said, a "band" of individuals had engaged in repeated fraud through secret bank account

Really any action in German company is unlikely to impact the local company.. However the stock is down on profit taking !

NOTE : THE STOCK IS A VALUE BUY AT LOWER LEVELS.

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