Court slashes fine on ex-Vivendi boss Messier

29th June 2005, Comments 0 comments

PARIS, June 29 (AFP) - The Paris appeals court has reduced a EUR 1 million fine levied on Jean-Marie Messier, former head of French media giant Vivendi Universal, to EUR 500,000, a court source said Wednesday.

PARIS, June 29 (AFP) - The Paris appeals court has reduced a EUR 1 million fine levied on Jean-Marie Messier, former head of French media giant Vivendi Universal, to EUR 500,000, a court source said Wednesday.

The court at the same time slashed a EUR 1 million fine on Vivendi Universal to EUR 300,000, the source added.

Messier and Vivendi had been ordered to pay the fines in December 2004 by the French stock market regulator AMF for having failed to properly inform the market and shareholders between 2000 and 2002. Both Messier and the company had appealed the sanctions.

The appeals court rejected several of the complaints that had been levelled against Messier and Vivendi while retaining others.

Copyright AFP

Subject: French news

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