Authority to consider, French LVMH stake in Hermes

French markets watchdog AMF Sanctions Committee will consider whether to impose sanctions on luxury LVMH for its participation in the construction of rival Hermes at the beginning of 2013, the head of the Autorité des marchés Financial BFM Business radio said on Monday. Chanel Outlet "(The deal) will be reviewed by our sanctions committee, I believe, in the first months of 2013," said Gerard Rameix. A spokesman for LVMH said it was standard procedure and accesses the result. The company is "confident" in the outcome of the case, he added. Hermes turned to the Autorité des marchés financiers after the shock revelation LVMH in October 2010 he had quietly known a 14 percent stake in the company for its luxury scarves established. It was using derivatives, which allowed him to escape the disclosure rules.