LVMH Hermes stake fuels Diageo sale rumours
LVMH Hermes stake fuels Diageo sale rumours
Oct 26, 2010 6
Rumours that UK drinks colossus Diageo might buy Moët Hennessy have been reignited after parent company LVMH took a stake in luxury goods business Hermès. Speculation has resurfaced that the French company could look to offload its €12bn drinks division – which has brands including Moët, Krug, Dom Pérignon and Hennessy – in order to fund a full acquisition bid for Hermès.
But LVMH denied any ambition to buy the family-owned company or to seek representation on its board, insisting that it only wanted to be a long-term shareholder in the business.
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