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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./ B. b+ M* p. R1 A2 h
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history./ x% V0 j( m2 Y( L+ Z5 y
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.. x8 f) q+ j4 O- g
Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.8 B8 T8 J7 N2 H$ l. `
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 G0 W4 H2 w( l8 ~" g
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.1 e5 W# z3 \- J" m* 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.7 \; O% p; t' m; i4 N9 O: w4 G: O
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Giancarlo Di Risio, president of LVMH Moet Henness3 K0 C& O; E8 u: R3 a7 T! P
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( J& Q- f* V: } }0 b2 {$ W Mr. Toledano said he planned to expand further into retail lines like shoes and |
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