MILAN (Reuters) – Shares in Tod’s failed to start trading at open on Friday, and were indicated up 15%, after France’s LVMH agreed to raise its stake in the Italian luxury goods group.
Tod’s said late on Thursday that LVMH would buy a 6.8% holding from Tod’s founder and Chairman Diego Della Valle, adding to a 3.2% stake which the group led by French billionaire Bernard Arnault already owns.
(Reporting by Claudia Cristoferi, editing by Valentina Za)
