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Prosecutor investigates General Electric's France chief

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PARIS (Reuters) – Paris prosecutors are investigating allegations of what they called improper acquisition of interest by the head of General Electric in France, Hugh Bailey, who worked as an adviser to President Emmanuel Macron when he ran the economy ministry.

General Electric called the allegations “completely baseless” and said it would cooperate with the investigation. Bailey denied the accusations, his lawyer said.

“The opening of the investigation offers Mr Bailey the opportunity to present investigators with all the elements necessary to refute the allegations against him,” his lawyer, Benjamin Van Gaver, said in an emailed statement.

Investigators opened their investigation following a legal complaint by leftist lawmaker Delphine Batho, a judicial source said.

Prosecutors did not immediately give details of the allegations aginst Bailey.

Hugh Bailey started working at GE in France in November 2017, before stepping up to the role of general manager in April. Bailey previously worked as an adviser to Macron when he was the country’s economy minister between 2014 and 2016.

(Reporting by Caroline Pailliez and Richard Lough, Writing by Richard Lough; editing by Sarah White and Giles Elgood)

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