PARIS - Paolo Bulgari, part of the founding family of the Italian jeweler acquired by French luxury behemoth LVMH last year, has sold 236.55 million euros in LVMH shares, French regulatory watchdog AMF said on Tuesday.

AMF also said that former Bulgari CEO Francesco Trapani -- Paolo Bulgari's nephew -- had sold 22.4 million euros in LVMH shares. (Reporting by Christian Plumb; Editing by Elena Berton)