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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 u E3 {$ H( K. n
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.4 D V1 [2 y- ~1 G7 @& @
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.6 q! c; v& I6 ]0 Q
Mr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.0 R2 O5 ^" h, K7 K7 b, u; y. X
In related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.
' u6 S# w9 G: s! sItalian leather goods group Diego Della Valle, seen as a potential rival to Prada, disclosed recently that it had amassed a 9.5% stake in Church.
- e; T) @$ @( x: Z ]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 Henness8 r6 C6 A2 G. O% b. ?
$ O8 V/ t+ Y1 R' W. j is it appropriate
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: X: E0 l8 S* G+ ]$ t* m Mr. Toledano said he planned to expand further into retail lines like shoes and |
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