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LVMH faces $10m fine for Hermes stake

03/06/2013

The Autorité des Marchés Financiers (AMF), the French regulatory authority, has recommended that luxury group LVMH be fined €10 million for its stakebuilding in Hermes - the maximum fine that can be proposed. 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...

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