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Jérémy Barande
Arnault acquired approximately 2.5 million shares, which represent 0.5% of the company, at an average price of €566 per share. These purchases were made through the holding companies Financiere Agache and Christian Dior SE, according to Bloomberg.
The amount of shares bought was much higher than in previous years, as shown in annual reports. The transactions happened during a period when LVMH had reported poor quarterly earnings. However, in October, the company unexpectedly announced that it had returned to revenue growth.
AlphaValue analyst Frederic Genevrier commented that Bernard Arnault's confidence in LVMH is very strong. He suggested that the purchases might show Arnault's intention to gain an "absolute majority" of LVMH's shares.
At the end of last year, Arnault held 65% of the voting rights in LVMH and had a stake of 49%.
source: bloomberg.com
The amount of shares bought was much higher than in previous years, as shown in annual reports. The transactions happened during a period when LVMH had reported poor quarterly earnings. However, in October, the company unexpectedly announced that it had returned to revenue growth.
AlphaValue analyst Frederic Genevrier commented that Bernard Arnault's confidence in LVMH is very strong. He suggested that the purchases might show Arnault's intention to gain an "absolute majority" of LVMH's shares.
At the end of last year, Arnault held 65% of the voting rights in LVMH and had a stake of 49%.
source: bloomberg.com
