Amber Capital says Lagardere lawsuit is baseless

PARIS (Reuters) – Activist shareholder Amber Capital said on Monday a lawsuit brought against it by French media company Lagardere (PA:) is baseless.

Lagardere – whose businesses include publishing house Hachette and Relay news agents – said on Friday it was suing Amber Capital and seeking 84 million euros ($93 million) in damages.

“Simply put, Lagardere is hoping to intimidate Amber with this new claim, which is as aggressive as it is baseless,” Amber Capital said on Monday, and reiterated its criticism of Lagardere’s financial and stock price performance.

Amber Capital holds a stake of around 5.3% in Lagardere.

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