Content Starts Here
L'Oreal in talks to take Armani stake: report
Enlarge image MILAN (Reuters) - Italian designer Giorgio Armani’s fashion
group is in talks with L’Oreal
One option apparently being discussed is for L’Oreal to take a roughly 25 percent holding, with a put and call option for a further stake, the business daily said in an unsourced story.
A Giorgio Armani spokesman denied the report, saying, "There has been ongoing speculation about L’Oreal and others and no talks are going on at the moment."
A L’Oreal spokesman was not immediately available to comment.
The Armani group had sales of about 2 billion euros (1.52 billion pounds) in 2006, Milano Finanza reported.
L’Oreal holds a long-term license for the production and distribution of fragrances, cosmetics and beauty products under the Armani name.
Armani, 73, mentioned L’Oreal as a possible partner in a Reuters interview in November, but said at the time there were no talks under way.
(Reporting by Ian Simpson, Editing by Peter Blackburn)
Advertisement starts
Advertisement ends
MILAN (Reuters) - Italian designer Giorgio Armani’s fashion
group is in talks with L’Oreal
One option apparently being discussed is for L’Oreal to take a roughly 25 percent holding, with a put and call option for a further stake, the business daily said in an unsourced story.
A Giorgio Armani spokesman denied the report, saying, "There has been ongoing speculation about L’Oreal and others and no talks are going on at the moment."
A L’Oreal spokesman was not immediately available to comment.
The Armani group had sales of about 2 billion euros (1.52 billion pounds) in 2006, Milano Finanza reported.
L’Oreal holds a long-term license for the production and distribution of fragrances, cosmetics and beauty products under the Armani name.
Armani, 73, mentioned L’Oreal as a possible partner in a Reuters interview in November, but said at the time there were no talks under way.
(Reporting by Ian Simpson, Editing by Peter Blackburn)
© 2008 Reuters Click for restrictions
Related Links
Advertisement starts
Advertisement ends
Advertisement starts
Advertisement ends
Weather forecasts
Get the 7-day forecast for your region.
Olympics 2008
Get all the breaking news, Team G.B. interviews, medals updates and more in our Beijing special.
WAGS
It's not just footballers who get shown the red card. Take a look at some of the WAGS back on the market.
Odd pics
Look back at the week in picture in our special gallery of the weird and wonderful.
Tiscali SpyGuard
Do you value your identity? Don't let it be abused by online scammers. Find out more.
Feeling the squeeze?
Prices and bills have rocketed over the past year and more. If you have to borrow, get the best possible rate.Latest Headlines
- Media Markt rejects DSG bid
- U.S. may take control of mortgage giants
- HBOS chief warns credit crunch to last
- Alitalia adviser to meet BA on rescue plan
- Elson to front biggest ever John Lewis campaign
- Italy's Mediaset has eyes on ITV
- Resolution won't rule out possible Friends Prov move
- HSBC's Green says Asian demand to spur inflation
- Ferrrovial says to sell Belfast Airport to ABN
- FTSE posts worst weekly fall in 6 years
Font size
Mail
My account
Help
Community
Print now
Send to a friend
Related articles
Related products
