BGN Entrepreneur

The French markets watchdog has asked the sanctions committee to determine whether to punish the luxury goods company–LVMH for the way the group took to obtain a stake in its smaller competitor–Hermès.
According to chairman of the Autorité des Marchés Financiers–Gérard Rameix, it was said that its inquiry had found “wrongdoing” in the way LVMH entered the capital of Hermès via the use of equity swaps in the year of 2010. However, it will be for the independent sanctions committee of the body to determine whether to endorse the findings and cast penalties on LVMH.

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