Disgraced French tycoon Bernard Tapie to sue state for 1bln euros

The former owner of Adidas claims new evidence shows state-owned bank Crédit Lyonnais actively devalued his shares it was mandated to sell.

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The controversial businessman and sometime pop star Bernard Tapie is suing the French state for more than 1billion euros he said was lost when Crédit Lyonnais, a now-defunct public bank, undervalued his stake in the sports clothing company Adidas, reports The Independent.