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Breakingviews: LVMH-Hermes declare peace

Wednesday, September 03, 2014 - 04:46

LVMH will distribute to its shareholders the stake it built up in Hermes. Groupe Arnault will retain 8.5% of its capital in Hermes, suggesting it's keeping its options open, says Reuters Breakingviews

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So -- -- helmets getting -- qualify hammering outsourcing and backing this morning on news that his resolve this dispute with LVMH. Basically it seems. The the speculative. Premium based on -- -- a full take -- Venice. Has as. Pretty much evaporate it get canceled as -- me. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- The controlling family has owned 63%. So what some tea wanted to accept price down 11% this morning. Well probably QB because it gives the company some sort of float. It didn't happen so it will make the chip recruits I think you can step and I have to moment but thinking that -- could be taken over at some point instituted ludicrous. -- -- this circle the wagons after his teammates. Stepped to DB is at stake. Four years ago some thing. What subsequent decline for the -- was a guy and or do you have for having me having hidden the fact that. If it's complicated. Net cash settled options deal. And on the old Vietnam movies and -- controlling Vietnam. I obviously wanted to more than that. What he denied it so they've -- peace. Over the -- for five years if you really look at the details. And the image we give back to its own shareholders. Pop a big chunk of the stake it has been tough but. It will keep faith and half percent to Khamis. And it. On the other hand has pledged. Not to buy it anymore Hermes shares of the next five years. What that means he's that. There -- non alignment the image. We have anything at this time. Cannot buy more. But what happens to fight music's so I guess you so -- Tehran and -- says. He's keeping his options yet according to Israel controls well the Hokies hope from the beginning was that. You know that those controlling families -- generations. After generation that's it becomes so diluted I've got more more than -- 10200. Yes to fortune that sometimes had conflicting interest we've seen an old beat. I mean found these companies when you have people you have people cousins and nephews so. Who want to buy -- nice house on the Riviera until they need to have pictures aren't liquid. And so they did they get that that packed 63%. To fend off and teammates. Attempt possible attempt. 22 to divide the Tammany. Although one member of the family decides to state. The way from the pregnancies you know -- -- -- of -- By himself so it gives you an idea whether the fruit is the argument is that that 10% of the -- nice to be you do would be an auditor. And but what happened to fight again but what happens it within that that within five years what what what more. Permits continues to be highly performing in very strongly. And tightly immigrant company I mean this is it's one of the very few including after groups that has. Where is that the recent crisis and the storms assistance from China. It's -- -- making it very exclusive goose is not strategies that everyone is trying to emulate and imitate including by the -- in the image. Leave it says Louis Vuitton. So -- and so so I can't fight that by products in China. By witnessed John Elizabeth is not a lot of election could make it happen again -- him that he to socialist showdown in the paint and things but that. Look at that chart performance over the last three years -- Committee has has had an amazing round. All right Mary get as complicated story but it's. It's an interesting one Carol runs -- by the way you see on the breaking views. Website just what I mentioned before we get the breaking -- have an e-book out today on -- Bob -- as side as it sap begins its. It's -- Plenty of -- article is breaking news -- in -- On -- Bob Bob and a number of surrounding issues that you can final set. On the breaking news site -- if you're watching US central studies and subdued that he PST. -- -- -- -- --

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Breakingviews: LVMH-Hermes declare peace

Wednesday, September 03, 2014 - 04:46