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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.$ y1 v% P1 S+ ~: B, v+ u& ]
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.- {2 o1 g; v e8 o1 @
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.
. l) {& B: l$ |5 Q# YMr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.( ]2 O! D& G8 p. ~
In related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.
5 a' e7 b0 j4 a# i$ JItalian 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.2 J$ ]/ t# t1 v# Q' u 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.( @8 e8 Z: b( b
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7 t0 d, ]6 V: ~( `. b8 {3 m Giancarlo Di Risio, president of LVMH Moet Henness
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Mr. Toledano said he planned to expand further into retail lines like shoes and |
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