Tiffany angry as LVMH tries to wriggle out of deal using ‘specious arguments’
29 September 2020 - 14:40
Wilmington/New York — Tiffany & Co have launched a new verbal broadside against LVMH, saying the French luxury giant’s justification for backing away from a $16bn acquisition of the jeweller is baseless and misleading.
The riposte came after LVMH counter-sued Tiffany on Monday, weeks after moving to end its purchase of the iconic New York-based brand. The owner of Louis Vuitton said the decision was driven by the French government’s request to delay the deal’s closing and Tiffany’s mismanagement during the pandemic — a claim the jeweller dismissed as nonsense...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.