Luxury goods group LVMH said this week it would counter-sue Tiffany, accusing it of mismanagement after the US jeweller accused the French group of trying to bow out of a $16bn (about R270bn) acquisition deal.

The owner of brands such as Louis Vuitton, led by billionaire Bernard Arnault, said earlier it could not complete its Tiffany purchase after the French government requested a delay on closing the transaction.

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