Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Lagardere CEO: There is no conflict with Arnault

Stock MarketsSep 04, 2021 23:10
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Arnaud Lagardere, the head of French media group Lagardere, arrives to attend the group's shareholders meeting in Paris, France, May 3, 2018. REUTERS/Charles Platiau

PARIS (Reuters) - Arnaud Lagardere, the CEO of Lagardere, denied on Sunday that he is having a conflict with luxury goods billionaire Bernard Arnault, who recently confirmed he was effectively cutting ties with Lagardere's personal holding company.

"There is no divorce. On the contrary, we have been discussing it for a few months. Bernard Arnault continues to believe in the future of the Lagardere group, in its ability to bounce back, and in its strategy," Lagardere said in an interview with weekly Le Journal du Dimanche, which he owns.

"The best proof of his trust is that Financière Agache stays in the capital of the Lagardere group...Our relations are excellent. My role is now to make sure he makes gains on his investment," he added.

Arnault came to Lagardere's rescue in May 2020 with an investment to help fight off an activist fund and mop up personal debts.

Last week Arnault restructured his holding in the media and publishing group, however, becoming a straightforward shareholder with a 10% stake rather than an investor in Lagardere's personal holding company.

Lagardere told the weekly that the scope of the Lagardere group would remain "intact".

"We will keep all the assets and expand them ... This group will experience an historic rebound after a phase of reconstruction and shareholders' instability," he added.

Lagardere CEO: There is no conflict with Arnault
 

Related Articles

Europe needs long-term energy plan, Eni CEO says
Europe needs long-term energy plan, Eni CEO says By Reuters - Sep 25, 2021

MILAN (Reuters) - Soaring gas prices as winter approaches are evidence that the European Union needs to work out a long-term energy security plan, the head of Italy's Eni has told...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email