Louis Vuitton casts doubt over $16bn Tiffany takeover

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Luxury goods giant LVMH suggests its takeover for the US jeweller could be on the back burner.
The world's biggest luxury goods firm, LVMH, has cast doubt over its planned $16bn (£12.5bn) takeover of US-based jeweller Tiffany.

LVMH agreed to acquire Tiffany last November, but coronavirus-induced turmoil on financial markets has overshadowed the deal.

After days of speculation, LVMH said on Thursday that it would not buy Tiffany shares on the open market.

It could be a sign that LVMH wants to renegotiate a cheaper price.

Tiffany's share price tumbled in March on the back of expectation that sales of its luxury jewellery would fall. Although the stock recovered, it has fallen again this week on speculation…
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