EVRY (dpa-AFX) - Carrefour SA (CRERF.PK, CRRFY.PK) shares were losing around 5 percent in Paris trading following reports that France's finance ministry reportedly has asked a court to fine the French retailer over contracts with franchisee stores.
As per the report, a 200 million euro penalty was recommended by the ministry's General Directorate for Competition Policy, Consumer Affairs and Fraud Control or DGCCRF.
The DGCCRF said that its investigations had found several companies in the group engaging in practices contrary to the French Commercial Code.
The ministry asked the Commercial Court in Rennes to declare several clauses of the contracts binding the franchisees and the Carrefour Group null and void. It has also asked to impose a financial penalty on the group.
Earlier, a report from French daily newsletter La Lettre had published a legal complaint from the ministry that claimed Carrefour's contracts with franchisee stores contained a significant imbalance.
In Paris, Carrefour shares were trading at 13.81 euros, down 5%.
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