Advertisement

Renault shares plunge after anti-fraud raids

Share this article

Renault shares plunge after anti-fraud raids
Photo: AFP
13:15 CET+01:00
Shares in carmaker Renault suffered a meltdown on the Paris stock exchange on Thursday after raids by anti-fraud detectives on the company, possibly to investigate emissions foul play.
At around 11.30am, Renault shares were down over 20 percent at €69.02, while rival carmaker Peugeot's stock also fell sharply, by seven percent to €13.70.
   
Earlier, unions reported that French anti-fraud detectives have raided several production sites of Renault, possibly to investigate emissions foul play. 
   
"Agents from the (anti-fraud unit) DGCCRF intervened in various Renault sites last Thursday," the CGT Renault union said in a tract.
 
Renault confirmed the raids later on Thursday.
   
The probe targeted the sites' engine control units which suggests, the union said, that the raids "are linked to the consequences of the Volkswagen rigged-engines affair".
   
Detectives took several personal computers belonging to Renault managers, the unions said.

Share this article

Advertisement

From our sponsors

7 ways to help your child adjust to life abroad

Moving abroad can be a big adjustment for anyone - and it's even harder when the move wasn't your choice. So how do you help your children settle in when your family makes the move?

Advertisement
Advertisement
2,942 Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement