Saturday, October 23: LVMH, the world's largest maker of Luxury goods has announced that it will purchase shares equivalent to a 14.2% stake in Hermès. After conversion of derivatives, LVMH will hold a total of 17.1% of Hermès. It is not clear exactly how LVMH procured such a large stock holding in Hermès, but there is speculation that it could have been purchased directly from an Hermès family member or simply on the open market.
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