LVMH is reportedly willing to accept the takeover bid from PPR - PINAULT-PRINTEMPS-REDOUTE for 100% of the GUCCI capital at $100 per share, in order to put an end to the dispute between the three groups. PPR currently holds 42% of GUCCI capital via a capital increase. This is challenged by LVMH whose stake in GUCCI has thus been diluted from 34.4% to 20.6%. The matter is currently being examined at the Amsterdam Court of Appeals. See EI of 2 June 1999.