Fall of Rexel shares after a press article on suspicions of tax evasion | Photo credits: Legrand
PARIS, June 22 (Reuters) – Rexel shares fell on the Paris Stock Exchange on Wednesday following a press article reporting suspicions of tax evasion, accusations dismissed by the group of electrical equipment.
At 3:59 p.m., the title dropped 6.07% to 15.71 euros.
Mediapart reports Wednesday of suspicions of tax evasion on the part of Rexel and its competitor, also French, Sonepar, in connection with an alleged system of “illegal agreement” on prices to limit competition in which would also be involved the electronics manufacturers Legrand and Schneider Electric, according to the French news site. https://bit.ly/3ugLdpR
Schneider Electric and Legrand securities yielded respectively 3.37% and 3.66% on the stock market.
Contacted by Reuters, the Rexel group says it denies “firmly all the accusations contained in the Mediapart article”. Sonepar also rejected them.
Schneider said for his part that he did not comment on his relations with his partners, relations built “in compliance with the law”, added the global giant of electrical equipment.
Legrand declined to comment on this information. (Written by Laetitia Volga, edited by Jean-Michel Bélot)