(Bloomberg) -- Electricite de France SA was cleared by a Paris court over accusations it unfairly awarded advisory deals worth more than €20 million ($22.4 million) to a select group of consultants without putting them up for tender.
Paris judges on Monday disputed prosecutors’ claim that an internal memo they relied on to make their case was a smoking gun showing the company’s guilt. The presiding judge said it can’t be concluded from the document that former EDF boss Henri Proglio set up an unlawful system to hire the external advisers that might boost his influence and improve his chances of getting his term renewed.
The favoritism case centered on awards given to 44 consultants, including a firm set up by former Vivendi SE boss Jean-Marie Messier. Those individuals and companies facing trial were all also cleared on Monday, including the former media tycoon’s eponymous Messier & Associés. The M&A advisory Messier founded is now controlled by Mediobanca SpA after the Italian bank acquired a majority stake in 2019.
During court hearings earlier this year, EDF’s legal team had cast the case as one that could jeopardize past and future contracts in countries like the UK or the Czech Republic in the event of a final conviction.
EDF said it took note of the judgment and pointed out that the company applies a zero-tolerance policy for fraud and bribery.
Some consultants pleaded guilty ahead of the trial and others escaped prosecution because they collected amounts under a certain threshold.
--With assistance from Francois de Beaupuy.
(Updates with EDF comment in penultimate paragraph)
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