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French Finance Minister Defends Involvement in LVMH’s Tiffany Deal

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France's Finance Minister Bruno Le Maire stressed plans to implement a digital tax on American technology giants.

PARIS — In a televised interview, France’s finance minister Bruno Le Maire defended the involvement of the country’s foreign affairs minister in LVMH Moët Hennessy Louis Vuitton’s soured deal to purchase Tiffany & Co.

“It’s the role of the minister of foreign affairs to take all the measures he deems necessary to protect French interests,” he continued, speaking on television channel French 2 Monday. LVMH executives have bristled at suggestions that LVMH lobbied the French government to help it find a loophole to call off the Tiffany transaction.

Le Maire steered the interview to the subject of a digital tax, stressing his intentions to pursue those plans, which are at the root of the French-American trade dispute.

 

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French Finance Minister backs Le Drian over LVMH-Tiffany interventionFrench Finance Minister Bruno Le Maire on Monday backed an intervention by the country's foreign minister Jean-Yves Le Drian in French luxury goods giant LVMH's plans to back out of a takeover of U.S. jeweler Tiffany .
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