PPR scotches rumours of Gucci deal
06/08/2001
The French luxury goods retailer Pinault Printemps Redoute (PPR) last week poured cold water on reports that it was close to agreeing a buyout of arch rival LVMH’s (Moët Hennessy Louis Vuitton) 20% stake in Gucci.
On Sunday, an UK newspaper reported that negotiations for the $1.4 billion buyout were well advanced and that PPR and Gucci’s bankers had already put together a package to facilitate the sale.
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