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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.8 e/ z F; R- l. O
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.% T U. i/ i4 M9 Z; C
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.
" G) v8 Y. _! O" R* F! @Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.7 e; C0 M4 c* N; v- H$ Z$ s
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.
4 V- j* F: b0 k1 W# nItalian 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.+ B+ E/ M$ m7 ?1 U' l H, |+ @: B
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.3 G4 _5 u6 Y. H+ ]3 Z) m/ c
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$ N; K/ [! X# J3 D7 N& U5 W Giancarlo Di Risio, president of LVMH Moet Henness
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is it appropriate
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# `) i" @2 R% v+ O! r J& |( q Mr. Toledano said he planned to expand further into retail lines like shoes and |
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