LVMH investigated for stake in rival Hermes - leatherbiz: Leading news Leatherbiz

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LVMH investigated for stake in rival Hermes

03/10/2012
An investigation is under way into how luxury group LVMH bought a stake in Hermes, a rival leather goods company, and built it from 14% to 22% effectively unnoticed.

Hermes has asked for a criminal investigation into the stakebuilding, following an earlier complaint to French stock market regulator AMF.

LVMH denies any wrongdoing and AMF has said it did not believe LVMH had been engaged in any insider trading or share manipulation.

The legal loophole that allowed LVMH to build its stake unnoticed through derivatives has recently been closed.

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LVMH and Hermès bury the hatchet in long-running dispute 04/09/2014

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