Bids for Mannesmann Watch Brands Reached $1.8 Bln, Paper Says
By Catherine McLean
Zurich, July 20 (Bloomberg) -- The past weekend marked the last chance to submit bids for Mannesmann AG's luxury-watch unit, Les Manufactures Horlogeres, Le Temps reported. According to unidentified people close to the matter, the final offer was about $1.8 billion for the Jaeger-LeCoultre, IWC and A. Lange & Soehne brands, the Swiss paper reported. The same people indicate Moet Hennessy Louis Vuitton SA, the leading luxury-goods company, and rival Gucci Group NV are willing to go to the wire regardless of the price, while Cie. Financiere Richemont AG is more reserved, the newspaper said.
Swatch Group AG, the world's top watchmaker, and Bulgari SpA, an Italian luxury jeweler, have also expressed interest in Mannesmann's watches |
