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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.
) O% {! [5 T% OAs a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.7 B& E# t! v; X) d
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.5 u W f% w4 ~. s: H6 z, h
Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.3 V8 S4 u% W8 N9 i# E, u
In related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.- h6 g$ d/ [/ w% N5 O) ^
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.
/ [3 E/ z# W! Q P/ s: LReflecting 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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Giancarlo Di Risio, president of LVMH Moet Henness/ p" B U. L2 U; r
6 p9 s$ \8 i K! k7 a8 r is it appropriate
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: x1 H1 I9 z; j9 j) C5 U Mr. Toledano said he planned to expand further into retail lines like shoes and |
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