Lagardere says sold 3.59 mln Renault shares


PARIS, Feb 24 (Reuters) - French media group Lagardere said on Monday it had sold 3.59 million shares in carmaker Renault at 38.37 euros per share.

A Lagardere spokesman added the sale of the stake confirmed its decision to pull out of the auto business.

The announcement came after dealers said earlier on Monday investment bank Lehman Brothers was placing 3.6 million shares, or a 1.26 percent stake in Renault, on behalf of Lagardere.

Lagardere was one of a group of French firms that took a stake in Renault when shares were sold on the market in 1995, and its Matra Automobile unit produced a number of vehicles for the car firm.



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