Renault sites raided in exhaust emmissions fraud probe

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Renault shares fell sharply on news that inspectors raided three sites near Paris, but carmaker and energy minister insisted no 'defeat device' was found. 

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French carmaker Renault said fraud investigators had inspected three of its sites to look into its vehicle emissions technology - news that wiped billions off its market value in an echo of the scandal engulfing German rival Volkswagen, reports Reuters.