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PwC: "No inappropriate behaviour" in Cargolux case
Economics

PwC: "No inappropriate behaviour" in Cargolux case

04.06.2013 From our online archive
A report into the stake in Cargolux by Qatari investors has concluded that there was “no inappropriate behaviour” involved.

A report into the stake in Cargolux by Qatari investors has concluded that there was “no inappropriate behaviour” involved.

The detailed PwC report into all negotiations with the Qatari investors concerning their stake in Cargolux was commissioned following a motion filed in December 2012 by the Chamber of Deputies.

Presenting the findings on Tuesday PwC Luxembourg Managing Partner Didier Mouget said that the main concern during all discussions was how to responsibly manage the firm's interests.

“Based on all the work that has been done, we have had absolutely no indication or evidence that anyone who was involved in this case, whatever their function or role, has behaved inappropriately. On the contrary, they managed the work responsibly,” he said.

The report is composed from the outcome of interviews with 24 inviduals involved in the management of the Cargolux file.

Mr Mouget said that PwC had some previous knowledge of the Cargolux file since the audit firm had worked for the air freight firm at different stages. He said that ethically and technically this did not influence the report as no staff who worked with Cargolux previously were involved in the compiling of the report.

Translated from an article by Nadia Di Pillo