MONTREAL — The Quebec Securities Commission said on Thursday it was examining stock trades by some members of the board of Bombardier Inc. in the weeks before last Friday’s announcement that Paul Tellier was taking the helm of the company, according to Reuters.
“I can say that we have taken this step in the Bombardier affair,” said Barbara Timmins, Quebec Securities Commission spokeswoman.
“People are asking themselves questions about the trades that have taken place before last week’s announcement,” she told Reuters.
The Globe and Mail newspaper reported on Thursday that the probe included trades by Jean Monty, former BCE Inc. chief executive, and by John Kerr, another board member. The commission declined to confirm the newspaper report.
Timmins said the inquiry was not a formal investigation and stressed no complaint had been received.
“It is ‘way too early to talk about an investigation,” she said in an interview. “We are asking questions to the parties involved.”
Bombardier stock rose 40 Canadian cents, or 7.8 percent, to C$5.50, last Friday after it was announced that Tellier, 63, head of Canadian National Railway, would take over at Canadian airplane and train maker on Jan. 13.
Bombardier lost 1 Canadian cent at C$5.23 a share on Thursday morning on the Toronto Stock Exchange. The stock has traded between C$3.13 and C$17.39 a share over the past 12 months.