MILAN — LVMH Moët Hennessy Louis Vuitton now has a bigger slice of the Fendi pie.

The French luxury goods house confirmed that "the Formilli family [that of Franca Fendi, one of the five sisters who inherited the company from their parents] had decided to sell its 15.9 percent stake in the fashion and accessories company to LVMH." It now owns 66.9 percent. The share’s equivalent will be paid over three years, starting in 2003.

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