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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.$ Q" x& W( I* V: a# c
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.
* S. N O0 D& t. k& E1 g- P9 T0 D& ZParis-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.# P7 G$ q5 V. {' G+ x- `: H
Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH. l1 ` a9 R8 \; J4 q
In related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.
3 r z/ N E1 Z0 T1 @. aItalian leather goods group Diego Della Valle, seen as a potential rival to Prada, disclosed recently that it had amassed a 9.5% stake in Church.
! ~) q+ ~5 P$ e$ y& mReflecting 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.+ R, p) d: e( X; e' g+ Y1 }
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Giancarlo Di Risio, president of LVMH Moet Henness) ?" |9 q. ^; b
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Mr. Toledano said he planned to expand further into retail lines like shoes and |
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