After battling it out for two years, LVMH and PPR - PINAULT-PRINTEMPS-REDOUTE have settled their dispute over the sale of Italy's GUCCI (see IE of 6 September). Under the agreement reached on Monday, on 22 October PPR will acquire from LVMH (which holds a 20.1% share in GUCCI) a 8.6% stake in GUCCI for $94 a share, thereby increasing its stake to 53.2%. In December, GUCCI will provide all its shareholders apart from PPR with an exceptional dividend of $7a share. In March 2004, PPR will offer...