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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 y3 _/ z/ ^$ _# _8 ~: k* K+ g& UAs a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.7 I5 g; @6 }" U. T' q: H2 P
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.
. c& o0 Z2 p4 f& o* x' LMr. 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./ `2 }4 \8 e) Z5 x2 T, M
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.% ?6 h6 q+ a: u
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.5 B- g9 ]# w% L8 P6 V. u6 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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Giancarlo Di Risio, president of LVMH Moet Henness! y% P p3 a' W( R
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! I2 q) ?+ _: w3 L6 q3 x; S Mr. Toledano said he planned to expand further into retail lines like shoes and |
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