UPDATE 2-Lagardere sells Renault stake, to exit auto business

Newswire

(Adds Lagardere confirmation) By Alison Tudor and Jean-Michel Belot LONDON/PARIS, Feb 24 (Reuters) - French media group Lagardere confirmed on Monday it was selling its 1.26 percent stake in Renault for 38.95 euros a share, pounding the carmaker's stock as much as five percent lower. Lagardere, which is expected to announce the sale of its Matra car assembly unit, said in a statement that the sale of the stake confirmed the world's largest magazine publisher's decision to pull out of ...

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