Morgan Stanley Faces French Probe Over €5.7 Billion Bolloré Sale
Updated
Updated · Bloomberg · Jun 2
Morgan Stanley Faces French Probe Over €5.7 Billion Bolloré Sale
1 articles · Updated · Bloomberg · Jun 2
A Paris judge was asked last week to force Morgan Stanley’s French unit to hand over internal documents tied to the 2022 sale of Bolloré SE’s African transport and logistics business.
Collectif Restitution pour l’Afrique says the US bank may have helped Vincent Bolloré launder proceeds from the €5.7 billion disposal, which the group alleges was rooted in corruption.
The buyer in the 2022 transaction was MSC Mediterranean Shipping Co., placing Morgan Stanley at risk of being drawn into a French criminal case brought by African communities seeking restitution.
Can activists use French law to force a US bank to repay billions from a tainted African deal?
With a trial looming in December, could Morgan Stanley's files be the key to this African corruption case?