LVMH to bolster stake in Hermes to 17.1%

10/24/2010 | Bloomberg Businessweek

LVMH Moet Hennessy Louis Vuitton plans to acquire another 14.2% holding in Hermes International, increasing its total stake to 17.1%. "LVMH has no intention of launching a tender offer, taking control of Hermes nor seeking board representation," LVMH said. "The objective of LVMH is to be a long-term shareholder of Hermes. LVMH fully supports the strategy implemented by the founding family and the management team."

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