LVMH shareholders Paolo Bulgari, Nicola Bulgari and Francesco Trapani have sold a EUR558 million stake in luxury-goods group, according to the Financial Times, which cited unnamed sources.

The Bulgari family, brothers Paolo and Nicola and Mr Trapani, their nephew, had accrued the stake as part of a deal made in March 2011 which saw the Italian jeweller sold to LVMH for EUR3.7 billion. Mr Trapani also joined LVMH as head of its enlarged watches and jewellery division.

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