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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.. }0 C% Y: _5 }0 ~5 q( N
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.1 |6 y; l, i8 o! P; n4 J
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.+ r4 f' ]$ k* A3 O; R: A( O$ X4 [
Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.
* X' @% b7 A, {/ DIn related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.
8 Z7 g% P+ i w% xItalian leather goods group Diego Della Valle, seen as a potential rival to Prada, disclosed recently that it had amassed a 9.5% stake in Church.. C7 \, F- S$ O- e7 w
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.2 F# L' n! j2 A) c* x
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Giancarlo Di Risio, president of LVMH Moet Henness+ P n( p" o: [: ~: `
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! O! [ Y$ M7 ^+ J& s; `- ?9 r: Z' s Mr. Toledano said he planned to expand further into retail lines like shoes and |
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