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LVMH could buy more Hermès shares

LVMH, the luxury group behind Louis Vuitton, said that it could continue to buy more shares in Hermès after buying a 17.1% stake in the luxury business this week.

The LVMH group said that it did not intend to take control of Hermès, but in a regulatory filing yesterday did not rule out acquiring more shares.

The filing also revealed that LVMH had aquired its stake using equity swaps which allowed to it avoid disclosing the build up of its stake, under the rules of the French stock market regulator AMF.

LVMH last week announced the acquisition of a 14.2% stake in Hermès for $1.45bn (£1.3bn) and that it had increased its stake to 17.1% on Tuesday.

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