By  on March 23, 2020

PARIS — LVMH Moët Hennessy Louis Vuitton said on Monday that contrary to recent press reports, it did not intend to buy shares in Tiffany & Co. on the open market.

The French luxury giant agreed to acquire Tiffany last November for $135 per share, or $16.2 billion, in the biggest deal in the history of the luxury sector. The U.S. jeweler’s shares have since fallen sharply as global markets have taken a beating due to the coronavirus pandemic.

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