LVMH Buys More Shares Of Hermes

So much for not letting them gain anymore equity.

LVMH announced on Tuesday they now own 20% of the Hermes International‘s shares.

However, the family-owned company’s doing everything they can to keep Bernard Arnault‘s grubby little paws off even more shares.

After LVMH acquired 17% of the shares in October, Hermes set up a private holding company that will own more than half of the company shares.

[Image via AP Images.]