Bernard Arnault, the billionaire founder of luxury goods group LVMH, has bought shares in Richemont, the rival Swiss-based conglomerate behind high-end jeweller Cartier.
The stake is too small to be disclosed in public registers and is a personal investment by Arnault, one of the world’s richest men, two people familiar with the matter said. It is a holding among many other stocks owned by the family and does not signal any particular move on Richemont, they added.
LVMH and Richemont declined to comment.
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