LVMH Holds 21.4 Percent Stake in Hermes

by POPSUGAR Fashion News 0

>> LVMH, which has repeatedly said it doesn't want to make a bid for Hermes, has increased its stake in the house again, from 20.2 percent to 21.4 percent. Since first announcing it held a 14 percent stake in Hermes last October, LVMH has increased its holdings on Hermes to 20.2 percent in December and then again last month. Hermes shares have been climbing relentlessly since May on speculation that LVMH could launch a takeover, and LVMH has always said it would buy Hermes shares on the market. [Reuters, Forbes]