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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.+ S: g7 C3 g7 J, Z Z1 M
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.
$ ]( w2 p# C. M& j; T& NParis-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.+ b# t( g! d( N. _+ j9 Q
Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH./ L( b5 B, X9 h. b. ^6 ^2 M0 v
In related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.
( ?/ e5 ^0 {; O: o/ bItalian leather goods group Diego Della Valle, seen as a potential rival to Prada, disclosed recently that it had amassed a 9.5% stake in Church. {. W( F* `7 V
Reflecting in part the high level of merger and acquisition speculation in the industry, as well as a fundamental re-covery in Asia, the Morgan Stanley luxury goods index was up 65% year-to-date earlier this week, crushing broader stock market indices.0 `6 x. G; w% ]9 o, Y; R; D
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$ }% X2 t8 J3 T: Q Giancarlo Di Risio, president of LVMH Moet Henness- ~0 ]- {1 ^ A- B! Y
+ [- m. Y ]' j- [% f is it appropriate
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2 x9 m3 k9 e8 i2 e Mr. Toledano said he planned to expand further into retail lines like shoes and |
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