Hermès family shareholders are said to be holding talks today in an attempt to oppose Bernard Arnault, head of luxury goods giant LVMH, buying further shares in the company.
This comes after LVMH, the company behind Louis Vuitton, secretly built a 17.1% stake in Hermès, triggering speculation the company is interested in making a bid.
According to The Times newspaper, around 60 members of the Hermès family are attempting to protect their own 73.4% of the business by ring fencing it and halting any possible take-over of the company. The Times has reported that the family is considering creating a non-listed holding to control the business.
Arnault has previously denied that his intensions are hostile, but in November it was said French competition authorities are to investigate the share acquisitions.