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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.% Y+ M7 w. {. H9 g
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.
7 O& ?, p* T" g( M; w' K# Y$ HParis-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. X8 Y8 o% x' o+ J5 ~
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.
; m, e" n- h7 ~ a4 y+ cIn 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.
7 V& Y0 _" w# R5 H2 C% B) vItalian 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.0 g: @; x8 L9 f D( m- O
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., o3 ]7 f N3 V' b p' L5 O+ H
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Giancarlo Di Risio, president of LVMH Moet Henness% ~+ d/ i( |& K* J' B. b( |- ?
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3 A; u2 t. O# y. _9 b6 O6 @% Z Mr. Toledano said he planned to expand further into retail lines like shoes and |
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