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. Last Updated: 07/27/2016

Gucci Bid Slows Down




PARIS -- Luxury goods group LVMH and coveted Italian fashion house Gucci are still in talks on a bid but do not appear to have come any closer to agreement, sources close to the talks said Wednesday.


The companies declined to comment on a report in The Wall Street Journal that LVMH set new conditions to any bid, including a request for assurances that top managers, notably Gucci stylist Tom Ford, stay on for two years.


LVMH also had no comment on reports from banking sources that it was preparing to raise up to $3 billion to refinance debt incurred in the rancorous takeover battle with Pinault-Printemps-Redoute.