Police said the attack occurred outside the office building in eastern Paris. Both victims were in critical condition, officials said, but their wounds are not believed to be life-threatening.
Police initially thought there were multiple suspects, but ultimately said the man they arrested near Bastille Plaza was the lone assailant.
Both of the injured are believed to work at a video production company that uses the office building where Charlie Hebdo was formerly located.
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A meat cleaver attack that seriously injured two people outside the former offices of satirical magazine Charlie Hebdo in Paris is being treated as an act of Islamist terrorism by French authorities.
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“Obviously the threat of terrorism on this street has been underestimated.”