The French government, it appears, is unable to refuse Bernard Arnault anything. The French luxury goods group LVMH, of which Arnault is chief executive and chairman, had been regretting its agreed purchase of the famous American jewellers Tiffany after the Covid epidemic and lockdown dented the trading performance of both companies. Now the French group has controversially pulled out of the deal after the French Ministry of Foreign Affairs helpfully wrote a letter to the company calling on it to defer the deal in order to 'defend [France's] national interests'.
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