LVMH Executive Director Discloses Confidential Or Will Be Fined 350 Thousand Euros.

A few days ago, the Italy market regulator (Consob) decided against France.

The managing director of group LVMH, Antonio Belloni, fined 350 thousand euros for the following reasons: Antonio Belloni in 2011.

Buying famous jewelry from Italy

In the case of Bvlgari (Bulgari), confidential information was disclosed to a fund manager privately.

In March 2011, LVMH paid a total valuation of 4 billion 200 million euros (37 billion euros, +5 billion euros), and wholly acquired the Italy jewelry company Bvlgari (Bulgari), which was listed in Milan by way of stock exchange.

After the paction, the Bvlgari family became the second largest shareholder of LVMH and had two seats in the board.

According to the news, Consob introduced the case in a statement on Wednesday: at that time, Antonio Belloni (below) privately told LVMH Alessandro's bid to buy Bvlgari, telling Alessandro Sonvico, an asset manager of Pentagram, a Swiss wealth manager company.

To this end, Alessandro Sonvico was also fined 350 thousand euros.

In addition, Consob said that Antonio Belloni will be banned from any management position of Listed Companies in the next eight months.

But LVMH's French and Italy lawyers believe that Consob's decision will not affect Belloni's current position.

Antonio Belloni denied the accusation, and LVMH said that Antonio Belloni would appeal against the decision to punish Consob.

According to the lawyer of Antonio Belloni, the parties will appeal against all charges against him.

LVMH said in a statement that since Antonio joined Belloni in 2001, its loyalty and integrity have given the group confidence.