The company behind Louis Vuitton has approached Tiffany over a possible takeover – with the proposed deal reportedly valuing the jeweller at $14.5bn.
LVMH, the world’s biggest luxury group, said following recent speculation it “confirms that it has held preliminary discussions regarding a possible transaction with Tiffany”.
In a brief statement, the company – controlled by French billionaire and Europe’s richest man Bernard Arnault – added: “There can be no assurance that these discussions will result in any agreement.”
The statement did not put a figure on the proposed offer – which the Financial Times reported would value Tiffany at $14.5bn.
Via Sky News