Frenchman Le Drian to address LVMH and Tiffany issue – government spokesman

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PARIS, Sept. 9 (Reuters) – French Foreign Minister Jean-Yves Le Drian will discuss in detail the issue of the planned $ 16 billion buyout by French luxury giant LVMH of US jeweler Tiffany, a government spokesperson after a cabinet meeting.

Spokesman Gabriel Attal told reporters that the French government could be neither “passive” nor “naive” in international negotiations with its partners.

LVMH said in a statement that its board had received a letter from the French Foreign Ministry asking it to postpone the Tiffany acquisition beyond January 6, 2021, given the threat of additional US tariffs against the French products. (Reporting by Benoit Van Overstraeten; Writing by Matthieu Protard; Editing by Jan Harvey)

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