LVMH decides to buy Tiffany in $16 billion deal

In a call Monday, LVMH Chief Financial Officer Jean-Jacques Guiony described the deal as a “game-changer” for the conglomerate’s watches & jewellery segment, batting away concerns over Tiffany’s near-term performance.

“We strongly believe that LVMH is not only an ideal owner for Tiffany but also that this iconic brand is a perfect addition to our portfolio and perfect complement to our existing model,” Guiony said.

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