With that row unresolved, and an independent review into Blooming Land’s use of donations from Ferrexpo under way, a wiser board might have ordered a temporary ban on directors’ share dealings. For its part, Ferrexpo says it thought a softly-softly approach could be more fruitful, but it came round to Deloitte’s way of thinking in February. But it was also odd for Deloitte to resign two days after the full-year accounts finally appeared, rather than on the spot. Ferrexpo has lost its auditor and two non-executives already. These days, Deutsche and Commerzbank have a combined market capitalisation of €29bn, versus €83bn for Santander of Spain, €69bn for BNP Paribas of France and €52bn for ING of the Netherlands.

Source: The Guardian April 29, 2019 18:26 UTC