April 3, 2019 / 7:54 AM / 7 months ago

Wirecard CEO: Expect share price to reflect fundamentals in long-term

BERLIN, April 3 (Reuters) - Wirecard Chief Executive Markus Braun said on Wednesday that the recent volatility in the company’s share prices was likely to prove short-term and he expected markets to focus on the company’s fundamentals in the longer-term.

Shares in Wirecard have seen volatile trading since the Financial Times ran a series of investigative reports alleging fraud and false accounting at the firm’s Asia-Pacific office.

“I can only speak for the operating business and, as I said, that is going well and I have no doubt that in the medium to long-term the share price will be based on the fundamental development and ultimately volatility and speculation always tend to be of a short-term nature,” Braun told broadcaster n-tv.

Reporting by Michelle Martin Editing by Riham Alkousaa

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