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05 November 2010

THE French financial services watchdog is set to investigate LVMH’s investment in Hermès, which the label’s executives this week termed dubious. Bertrand Puech and Patrick Thomas said that Arnault should “withdraw” if the investment was to remain “friendly” and insisted that the acquisition should be investigated by the AMF.  LVMH said in a statement today that it welcomed the AMF inquiry, WWD reports, adding that it was convinced the probe would establish that it had scrupulously respected the law. LVMH acquired14.2 per cent of Hermès on October 22, and increased its share to 17 per cent earlier this week despite insisting no takeover is planned.

Check out the Hermès ready to wear collection for 2011.


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