LVMH faces $10m fine for Hermes stake
03/06/2013
The rivals have been embroiled in a bitter dispute since LVMH revealed in 2010 that it had built up a 17% stake using equity swaps, since built to 22%, which Hermes says was contrary to the rules on disclosure – a charge LVMH has denied.
On Friday the AMF dismissed a claim by LVMH that the charge was invalid; instead it recommended that the luxury group be fined €10 million.
A final decision will be made at the end of July.
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