EU clears LVMH takeover of rival Bulgari

July 4, 2011

, European regulators gave LVMH, the world’s top luxury retailer, approval on Thursday to take control of Italian rival Bulgari, creating a jewellery behemoth challenging Cartier and Tiffany.

The European Commission said the takeover would not “significantly alter the competitive structure” of the luxury business because Bulgari holds a small market share and LVMH would still face competition from several other companies.

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