By Aled Herbert, 7 March 2002 08:55
NEWS MobilCom has appointed an auditing firm to investigate the purchase of a five per cent stake of Millennium, a company owned by the wife of CEO Gerhard Schmidt. Schmid's wife Sybille Schmid-Sindran acquired five per cent of MobilCom last year. At that point her husband denied knowing who owned that five per cent. When the shareholder's identity was revealed last month, France Telecom lost confidence in Schmidt. France Telecom, which controls 28.5 per cent of the German mobile operator, had threatened legal action unless an independent inquiry was launched. The two companies are due to talk next week in an attempt to resolve the dispute. France Telcom is thought to want Schmidt to step down as CEO to allow it to take control of the company. Auditors BDO will submit its report on 20 March.
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