French Regulator Notifies LVMH of Complaints on Hermes Share Buying

French stock market regulator AMF informed LVMH Moet Hennessy Louis Vuitton SA (MC.FR) has a number of possible causes of complaints about the purchase of luxury goods companies with significant interest in cross-town rivals identified Hermes International SCA (RMS FR). The controller is to assess the possible sanctions in spring 2013. Prada Bags 2012 In an interview with BFM radio local businesses, said Gerard Rameix AMF LVMH has reported on alleged irregularities, a process which may or may not lead to sanctions. He said, "will be discussed by (AMF) commission of penalties ... in the first months of 2013." Allegations An LVMH spokesman confirmed the report and said he had not determined the final decision. He said the company was confident about the whole process. The two companies have in your hair since October 2010, when LVMH he showed no less than 17% of Hermes piled, for a total of 1.45 billion euros ($ 1.87 billion) had been. LVMH has the game installed using derivatives as swaps of shares acquired by the banks for a period of two years. In October 2010 he joined the equity swap contracts instead of shares in cash in a move to provide that he passed the various disclosure thresholds. The AMF has opened an investigation into the acquisition of the stake in Hermes in 2010. Used in another case, Hermes has filed a complaint with the Paris Prosecutor against LVMH in July this year, accusing his rival further negotiation tactics in the acquisition of significant stake in the company have undertaken. The prosecution asked the opinion of the AMF prior to the decision to open a formal investigation of the complaint Hermes. BFM said Rameix MFA advises prosecutors in coming days.