LVMH not respond AMF end Hermes

Luxury goods LVMH announced Tuesday that it will not appeal a fine imposed by the market watchdog AMF in France compared to construction game rival Hermes Louis Vuitton cluth . In July, the AMF imposed LVMH € 8,000,000 ( 6.76 million euros ) for failing to disclose its participation in strengthening the rival Hermes before 2010. LVMH said that although he " fully justified " in calling the end of AMF AMF was okay, he definitely set procedures to avoid interference with " good management " of their participation in decision Hermes, who is 23.1 percent. The 175 -year-old manufacturer of hand bags Birkin and Kelly - - LVMH up in his fight to secretly punish a challenge although it is not as high as 10 million , the maximum fine that could be imposed , the AMF as a victory for Hermes was fine . Louis Vuitton cosmic blossom The Disciplinary Committee of the AMF in particular condemned the " unusual " way LVMH had amassed its activities , with a number of banks to prevent the purchase of equity swaps reporting and the use of subsidiaries abroad, not listed as a consolidated units to its Annual Report 2010 . LVMH said that in his work, the AMF " explicitly confirmed that the acquisition of the stake in Hermes, LVMH never broken the rules for thresholds or engaged in insider trading or market manipulation " Closed with the AMF chapter , the rest of the battle has not played like Hermes in June launched a new series of lawsuits against its rivals for outright cancellation of the equity swaps used by LVMH . LVMH announced on Tuesday that he " have baseless lawsuits caused by the Hermes - management and compensation for severe damage their actions pursued. " All necessary measures to put an end to Hermes On Sale Hermes refused to comment .