Fri, 16 Nov 2007

Adecco France has received a statement of objections from the French Competition Council alleging exchanges of commercially sensitive information with competitors from 2003 to 2004 and a concerted practice in connection with one tender offer in France.

Adecco has been advised that in comparable cases in the past the French Competition Council has issued fines which, if they were to be levied at a similar level, would not be material for the Adecco Group.

The French competition authority began an investigation of Adecco France and certain of its competitors in late 2004. Two of the French subsidiaries, the former Adecco Travail Temporaire (now Adecco France SASU) and Adia SAS (now Adia SASU), have received a Statement of Objections alleging violations of competition rules. According to the statement Adecco Travail Temporaire has been involved in exchanges of commercially sensitive information with competitors in 2003 and 2004. Adecco Travail Temporaire and Adia SAS allegedly have also been involved in a concerted practice in response to one tender offer of a French company.

A Statement of Objections is a legal step in proceedings under French competition law. This step does not prejudge the outcome of the matter as the parties will have full access to the file and the right to respond to the council's objections and to present their views in a formal hearing.

In a statement Adecco said: “Adecco adheres to high ethical and business compliance standards. Antitrust compliance and fair competitive behaviour are part of Adecco's 'Code of Business Conduct' and Adecco is strongly opposed to any violations and misbehaviour. The investigations of the competition authorities are limited to the two French subsidiaries and certain of their competitors in the French market.”