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But Franca, according to reports, favours privately owned Texas Pacific because it has promised that her two chil-dren will keep their jobs with the company if it is taken over.) } d: D+ r/ `
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.
0 \& H2 k+ z( R- G/ G! f+ R' }Paris-based LVMH's Mr. Arnault earlier this year fought a bitter takeover battle for Gucci with Mr. De Sole. In the midst of that battle, Prada's Mr. Bertelli agreed to sell his Gucci stake, at a nice profit,christian louboutin shoes, to Mr. Arnault. But Mr. De Sole won the day with a bold white knight deal with Pinault-Printemps-Redoute.! @' x- T( N R/ v/ s
Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.
8 y1 E k9 v% z7 U$ _9 t( }In related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.: R+ ]7 x; ~6 \$ Q
Italian leather goods group Diego Della Valle, seen as a potential rival to Prada, disclosed recently that it had amassed a 9.5% stake in Church.4 b: p8 x8 N O, v* R/ F$ X
Reflecting in part the high level of merger and acquisition speculation in the industry, as well as a fundamental re-covery in Asia, the Morgan Stanley luxury goods index was up 65% year-to-date earlier this week, crushing broader stock market indices.
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8 @! ]1 T$ Q8 s3 R; ~ Giancarlo Di Risio, president of LVMH Moet Henness
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2 w4 x6 o8 x+ ~7 y d; ?3 \ Mr. Toledano said he planned to expand further into retail lines like shoes and |
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