October 15, 2019 / 9:43 AM / a month ago

Wirecard says FT report is compilation of false and misleading allegations

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

BERLIN (Reuters) - Germany’s Wirecard (WDIG.DE) rejected allegations of impropriety on Tuesday after the Financial Times newspaper published documents on the company’s accounting practices alleging an effort to inflate sales and profits.

“Today’s article by the Financial Times is a compilation of a number of false and misleading allegations... and which were already fully refuted before,” Wirecard said in a statement.

Shares in Wirecard sank more than 20% on Tuesday on the Financial Times’ report and bond prices slumped.

Reporting by Riham Alkousaa; Editing by Arno Schuetze

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