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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.
: `7 Z0 A; Q1 p% ~1 B( e. zAs a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.
9 t5 w: S+ I3 k: Q3 I. AParis-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.# B2 H6 k }2 J
Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.
+ S. t% |# S: M$ L. G1 hIn 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 P! {0 W( \; ^
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.8 r; G+ B; y/ F4 q
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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Giancarlo Di Risio, president of LVMH Moet Henness
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5 H( Z8 s' V0 Y! T* l is it appropriate- E- \% i' k2 M( C! B1 n8 H( |
0 i+ R& k3 e0 R i& I/ ^; h- ~ Mr. Toledano said he planned to expand further into retail lines like shoes and |
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