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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.; n& G | H/ H8 X* r- x
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.+ l* Q: k; i+ q, m, [
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.
' B! ~( q3 B$ t) E$ ZMr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.
O2 M' [7 X9 L7 r' g& t7 LIn related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.
4 c/ ~$ e, Q- U FItalian 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.; y5 `( G6 B3 A, j
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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3 v4 Q( O: y1 h# X: \4 n Giancarlo Di Risio, president of LVMH Moet Henness
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1 C* d- D$ @! f3 q2 ] is it appropriate: }* Z1 y1 K: j- X. ?0 f: s& t
2 ]# k* ^! l1 m) `9 b Mr. Toledano said he planned to expand further into retail lines like shoes and |
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