The Louis Vuitton group have no interest in taking over AC Milan at the moment, according to one of their spokespeople.
Newspaper La Repubblica went big with a report last year which stated that that Arnault has tabled a €975m bid to buy Milan, and a number of sources have continued to insist that the Frenchman has a genuine interest.
However, that speculation has died down since 2020 and now it appears that American fund Elliott Management are in fact here for the long run. Antonio Belloni, general manager of the LVMH Group, spoke during the Merger & Acquisition Summit organised by Sole 24 Ore about the idea of buying Milan.
“As far as Milan is concerned, we have no interest in this issue. For weeks I have been denying this rumour which attracted more attention than other transactions we have made. By now I am exhausted in trying to deny this news,” he said (via MilanLive).
“We had a very big deal with Tiffany that we consolidated earlier this year. So we are very focused on organic growth, we have over 75 brands and a lot of work to do. Of course we are always extremely careful and we like to think that if there are things that happen on the market, we know them.”
It seems therefore as though the rumours regarding the possible purchase of Milan by Louis Vuitton can be put to bed. Denials have previously arrived from an LVMH spokesperson regarding the possible takeover, and more arrived on Instagram from Bernard Arnault’s son, Antoine.