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France's richest man to get honorary knighthood

Monday, 8 Oct 2012 | 11:44 AM ET

LONDON -- He's taken heat for talking about moving from France to Belgium to avoid high taxes _ and now he's raising eyebrows with an honor from the British Queen.

Bernard Arnault, the luxury goods chief who is France's wealthiest man, is set to receive an honorary knighthood in Britain.

Britain's Foreign Office says the award is for "services to business and the wider community in the U.K." Officials said Monday the date of the ceremony has not been set.

The honor comes several months after U.K. Prime Minister David Cameron said his government would go out of its way to welcome French firms looking to relocate because of the high tax burden in France.