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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." k( Q( Q% z( n1 I
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.5 M- ^2 T0 L* \0 I$ v
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. @( a; V% Y9 a+ D
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.
% ^& ^* c. _) N6 m1 w2 FIn 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.( W/ E9 w ]1 E9 S, E
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.: P6 C5 c5 s7 K
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
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& _6 [1 M; b' _8 K6 b8 c" y4 H6 s is it appropriate
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( L+ ~ C# x; O* {* K7 a Mr. Toledano said he planned to expand further into retail lines like shoes and |
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