Nicolas Sarkozy rebuffs rumours of private equity move

French information website Mediapart broke the news on Monday, claiming that Sarkozy was gauging potential investors with a view to launch a €1bn fund. Citing anonymous sources and "evidence" from the French financial investigation body, Mediapart added that the former president was thinking of relocating to London, which benefits from a more attractive tax regime.

Sarkozy's entourage vehemently denied the claims today, with a person close to the situation telling Reuters that while Sarkozy had received many proposals, he hadn't acted upon any of them. Alain Minc, a former adviser to Sarkozy named by Mediapart as a partner in this new venture, also denied the claims.

Nicolas Sarkozy's half-brother Olivier is a managing director and head of global financial services at private equity house Carlyle. He joined the firm in 2008 and is based in New York.

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