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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.- E: m; l* n. j- v, Q0 f- p
As a backdrop to speculation about the five sisters, their would-be partners also share a complicated history." X/ }# w9 l' s8 i2 @) X. I. D# i
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.
. S' q T9 ~8 EMr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.
2 }4 x! {% ]2 T3 M7 [In related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.0 R$ s% m6 {' r$ u
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.
: L4 Z. `1 f5 J+ Q, e! zReflecting 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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! P" w; C; T0 }1 `9 o8 w Giancarlo Di Risio, president of LVMH Moet Henness9 w+ D4 b3 k, ~) W3 ` `2 t: u- p3 Q1 N
7 J5 Z- s) N, ?5 z is it appropriate' {/ F- h8 S' U' H1 q* L I: {
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Mr. Toledano said he planned to expand further into retail lines like shoes and |
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