Media & Telecom

Lagardere denies wrongdoing after Le Monde reports ongoing investigation

1 minute read

The logo of French media group Lagardere is seen during the groups annual general meeting in Paris, France, May 3, 2016. REUTERS/Benoit Tessier

PARIS, July 24 (Reuters) - French media giant Lagardere (LAGA.PA) denied any wrongdoing after daily newspaper Le Monde reported on Friday a judicial investigation into the company was underway to look into potential infractions including false accounting and vote buying.

Le Monde said a judicial investigation had been launched in April, leading to the appointment of a judge on the matter.

"The company acts within the law and will vigorously defend itself against any contrary allegation," Lagardere said in a short statement on Saturday.

Lagardere has been at odds recently with several shareholders including hedge fund Amber Capital which earlier this year filed a complaint. The dispute has been resolved since.

It is transforming itself into a joint-stock company, unravelling an arcane structure that had caused strife with shareholders.

Reporting by Matthias Blamont Editing by Frances Kerry

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