The government of the Republic of Congo has said it will not recognise Societe Generale's sale of its country subsidiary to Vista Group because the bank did not give it a right of first refusal.
The logo of Societe Generale is seen on the headquarters at the financial and business district of La Defense near Paris, France, February 4, 2020. REUTERS/Benoit Tessier
sale of its country subsidiary to Vista Group because the bank did not give it a right of first refusal. "The Congolese state strongly denounces this approach and considers the agreement of the Societe Generale Group to sell its stake to the Vista Group as null," the finance ministry statement said, adding that it did not exclude the use of legal recourse against the Societe Generale.
"Societe Generale is a responsible player and the local and regional regulatory authorities have been informed," the French bank said in an e-mailed statement.
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