LVMH INCHES CLOSER TO BUYING FRENCH NEWSPAPER

As some of you are probably aware, LVMH is in exclusive talks with Pearson to purchase its French business daily, Les Echos, for 240 million euros. Yesterday, the two sides moved a step closer to making a deal once they agreed on principles designed to protect quality, independence and jobs at the newspaper. Journalists at Les Echos maintain they are still opposed to the deal despite “great improvements” in LVMH’s offer, according to Dow Jones Newswire. LVMH already owns rival French daily La Tribune and is ranked in the top dozen biggest French companies.