Hermes news soon on shares decision

FRENCH luxury goods group Hermes should find out next month if it will have to buy out minority shareholders as part of plans to create a family holding to ward off rival LVMH, French markets regulator AMF said.

Hermes decided earlier this month to create a holding to allow family shareholders to control more than 50 per cent of equity to defend itself against LVMH's unwelcome swoop.