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French agency files statement against Adecco

November 16 2007
The French Competition Authority may issue a fine against Adecco SA, the company said Friday. The French agency issued a statement of objections claiming Adecco France subsidiary Adecco Travail Temporaire exchanged commercially sensitive information with competitors in 2003 and 2004 and it and another subsidiary, Adia SAS, were involved in improprieties regarding the tender offer of a French company.

According to Adecco, the allegations arose from an investigation in 2004 by the Fench authority. Manpower Inc. (NYSE: MAN) and Vedior were also investigated at the time.

The statement of objections is a legal step under French law and does not prejudge the outcome, Adecco said. The company can respond to the allegations and present its views in a formal hearing.

"Adecco has been advised that, in comparable cases in the past where the allegations were found to be warranted by the facts, the French Competition Council has issued fines, which would not be material to the Adecco Group," Adecco said. "However, there can be no assurance that the ultimate resolution of this matter will not have a material adverse effect on the consolidated financial position, results of operations, or cash flows of the Adecco Group."

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