According to The Financial Times, LVMH and PPR - PINAULT-PRINTEMPS-REDOUTE is about to settle their dispute over the Italian group GUCCI, a dispute that has now lasted two years. The operation would be in three stages: PPR, which holds 42% of GUCCI, would become the majority shareholder of the Italian group with the purchase of one third of LVMH shares (20.6%) at $95 per share. An exceptional dividend of $7 would then be paid out in November to all GUCCI shareholders, except PPR. Then, PPR would make a bid, in 2004, on the rest of the LVMH share capital at the price of $101.5 per share.