Bank Denies Error in Accounting for Shares
French bank BNP Paribas denied that it incorrectly accounted for the shareholdings of former Vivendi Universal Chief Executive Jean-Marie Messier in December 2001.
The bank, which tracks share sales of Vivendi directors, issued the statement after Messier complained that Vivendi had incorrectly suggested he sold more than 200,000 shares in the first half of 2002, instead of late 2001. Messier has blamed an administrative error at the bank.
Vivendi reported the matter this week to agencies in France and the U.S. that are investigating the company’s accounting and disclosures. Shareholders have accused Vivendi and Messier of deceiving them about the company’s financial situation last year.
