Vinci backs down, subsidiaries targeted for ‘private corruption’ – press


Vinci declines, subsidiaries targeted for private-press corruption | Photo credits: © VINCI photo library

May 23 (Reuters) – Vinci shares fell around 2% on the Paris Stock Exchange early Monday morning after the publication of information according to which some of its subsidiaries would be indicted for “private corruption”.

Franceinfo and AFP reported on Friday that Vinci Construction France was indicted in February for “private corruption”, citing the Nanterre prosecutor’s office.

The investigation is also targeting Chadia Clot, the former manager of the French Property Management fund dedicated to the investments of Hamad Ben Khalifa Al-Thani, the former emir of Qatar, franceinfo reported on its site.

The Petit and GTM Building subsidiaries of the French infrastructure group were also indicted in February for “private corruption” from 2008 to 2016, the period of the charges, according to the media.

Vinci’s press office told Reuters it had no details of the case and the group was not expected to issue a statement at this time.

The title, red lantern of the CAC 40 on Monday, has lost more than 4% since the start of the year. (Report Juliette Portala, written by Elena Vardon, edited by Kate Entringer)

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