Analysis: No prizes for those who play the discreditable patriotism card

The French government’s convenient backing for billionaire Bernard Arnault’s retreat from his Tiffany’s deal sits as ill as Trump’s persecution of TikTok

4th October, 2020
Analysis: No prizes for those who play the discreditable patriotism card
Bernard Arnault, owner and chief executive of LVMH Luxury Group Picture: Getty

Last November, Bernard Arnault, the French tycoon, made an offer to buy Tiffany, a New York jewellery emporium so famous it once starred in a Hollywood movie. The bid by LVMH, the luxury goods group he controls, valued the jeweller at $16.6 billion. That was considered steep, but this is high fashion, where money is no object. Arnault is the richest man in France, if not Europe.

At the time, LVMH’s purchase of Tiffany was billed...

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