EU To Approve LVMH, Tiffany Deal

French luxury goods group LVMH is set to gain EU antitrust approval for its acquisition of US jeweler Tiffany, people familiar with the matter said.

The EU decision comes amid a legal battle between LVMH and Tiffany, with the latter suing the Louis Vuitton owner in a Delaware court, alleging that the French company has deliberately been stalling the completion of the deal.

On its part, Tiffany has alleged that LVMH has improperly tried to renegotiate the deal, which was agreed in November last year before the COVID-19 pandemic emerged and hit countries and companies worldwide.

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