China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
LVMH finalizes newspaper deals with Pearson, Weill
PARIS (Reuters) - French luxury goods, champagne and spirits group LVMH (LVMH.PA) said on Monday it had finalized a deal with Britain's Pearson (PSON.L) to buy newspaper Les Echos and had signed a deal with Alain Weill to sell him La Tribune newspaper.
LVMH said Nicolas Beytout, a scion of the former Les Echos owning family and previously editor in chief at Le Figaro newspaper, would become chairman of the board at Les Echos.
On Friday, French antitrust authorities gave LVMH the go-ahead to buy business daily Les Echos for 240 million euros ($345.8 million).
In November, LVMH agreed to buy Les Echos from Britain's Pearson Plc (PSON.L) despite opposition from the business newspaper's journalists.
The French Finance Ministry said on Friday that along with selling La Tribune, LVMH would have to separate the advertising business of its Investir magazine from that of Les Echos and also let the future owner of La Tribune maintain advertising links with Investir.
(Reporting by Marcel Michelson; Editing by Quentin Bryar)
