Friedrich Merz wants to shed light on allegations against Blackrock | TIME ONLINE

The politician of the CDU Friedrich Merz "It is pronounced in favor of an in-depth investigation into the charges against the world's largest badet manager, Blackrock. In Germany, he instructed Blackrock's board of directors to work with the investigating authorities and put all the documents on the table, "said Merz, who is also Chairman of the Board of Blackrock Asset Management Germany. in Munich Merz wants to run in December as president of the CDU.

"Everything will be cleared up here and we will actively work on it," said Merz. The council will do so according to its instructions. Investigators from the Cologne prosecutor's office had already searched the premises of the wealth manager in Munich. The reason is a preliminary investigation into the tax traps on dividends, an insider said. In the so-called "cum-ex-ex" transactions, investors were able to repay at least two times the withholding tax once paid from their bank.
To do this, they surrendered each other on the date the dividend was registered.
Shares with (Latin: "Cum") and without ("Ex") right to the dividend.

In Germany alone, the state escaped, according to the
Federal Ministry of Finance more than five billion euros before the
The legislative vacuum of 2012 has been filled. In the whole of Europe the total is
Damage to more than 55 billion euros, if you want more opaque
The addition of control account designs.

Research on HypoVereinsbank

Merz has been Chairman of the Supervisory Board of Blackrock Germany since 2016. The controversial activity concerns the period 2007-2011, that is to say the years that preceded the inauguration of the highest office. Merz said that it was right that, considering his candidacy for the presidency of the CDU, a public debate also took place on his work at Blackrock. He had "not expected anything else".

A spokesman for the American company said earlier: "Blackrock is cooperating fully with investigating authorities in connection with an ongoing investigation into cum-ex transactions". In addition, the HypoVereinsbank has been searched according to the financial circles. Prosecutors from Munich and Cologne did not want to comment on the case.