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French Finance Minister backs Le Drian over LVMH-Tiffany intervention

PARIS, Sept 14 (Reuters) - French Finance Minister Bruno Le Maire on Monday backed an intervention by the country’s foreign minister Jean-Yves Le Drian in luxury goods giant LVMH’s plans to back out of a takeover of U.S. jeweler Tiffany.

“It was the right decision,” Le Maire told France 2 television, saying that Le Drian was working to protect French interests in his intervention on the LVMH-Tiffany deal.

Last week, LVMH said its board had received a letter from the French foreign ministry asking it to delay the acquisition of Tiffany to beyond Jan. 6, 2021, given the threat of additional U.S. tariffs against French products. (Reporting by Sudip Kar-Gupta; Editing by Christian Schmollinger)

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