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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.
% K9 V8 V6 ~8 S% A* T* VAs a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.! o+ b" R* M6 \' e
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.8 p7 f3 Z) x ]& v; J- J- y' c7 N
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.0 k2 t. [" r: N. t& Q9 w5 C; V
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.
; ^" M# p [( R8 \) a; m2 c, R# iItalian 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.! n: g+ d6 j/ @' Q% q& |6 Y$ G
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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5 a) E4 H7 u! U9 b1 ~6 j+ _ Giancarlo Di Risio, president of LVMH Moet Henness+ P% m) l& A3 P+ u, T5 w; h- s
. r' |0 W1 e: E8 \0 {/ \ is it appropriate1 ~' E( A+ y! h0 a) c( B6 ]. T7 @
. A6 W9 ?" ]) W( D( A6 D, j7 f Mr. Toledano said he planned to expand further into retail lines like shoes and |
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