fashion + beauty + insider interviews + est 2006

Tuesday, November 06, 2007

PAPER CHASE: ARNAULT PAYS CASH FOR FRENCH PAPER

if i had his kind of money in the bank, i'd be smiling too. (pic from: clabedan.typepad.com)

paris--okay, so is bernard arnault secretely trying to own the world? as head of lvmh moet hennessy louis vuitton, he owns some of the worlds largest luxury labels. now he is adding a newspaper to that stable. groupe les echos sa is a french daily financial newspaper currently owned by britain's pearson plc. but according to wwd.com, that won't be for long. arnault has made a successful bid for it and is set to own the paper before the year wraps up. and what was the cost to be the boss? 240 million euros or $348 million dollars. IN CASH!!!! (can i be his baby momma!!?)

1 comment:

AAWesome said...

DAMN! DAMN! DAMN! Lately, I've been hearing about all of these ballers buying ISH for millions of dollars in CASH, like they're going to the bodega to buy a .25cent bag of chips. CASH??? What is the hell does $348 million dollars in cash look like??? How many brief cases??? DAMN! DAMN! DAMN! I have to and will get to that status and beyond soon.

Blog Widget by LinkWithin