STOCKHOLM, Sept 2 (Reuters) - Swedish police apprehended

nine people on Tuesday on suspicion of gross insider stock

market trading in 2024 and 2025, ahead of the publication of

takeover offers for two companies listed on the Stockholm

bourse, the Economic Crime Authority said.

The suspected insider trades were made in the shares of

Tethys Oil, which was subject to a takeover in September of last

year, and fintech Fortnox ( FNOXF ), which was bought after an offer in

March this year, an agency spokesperson said.

The agency said several persons with mutual connections

repeatedly traded large sums in a coordinated manner, based on

what it suspects was leaked information on expected bids.

"It is insider trading on a level we have barely seen

before," Prosecutor Jonas Myrdal said in a statement, adding

that Tuesday's police action followed a long investigation and

included the seizure of electronic devices.

A spokesperson for Tethys Oil said the company had no

indication or reason to believe that the matter concerned any of

its current or former employees.

A Fortnox ( FNOXF ) spokesperson declined to comment.

Tethys Oil and Fortnox ( FNOXF ) were delisted in January and

July, respectively.