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France's Le Drian to address LVMH and Tiffany issue: government spokesman

PARIS (Reuters) - French Foreign Minister Jean-Yves Le Drian will address in detail the issue of French luxury giant LVMH's LVMH.PA planned $16 billion takeover of U.S. jeweler Tiffany TIF.N, a government spokesman said on Wednesday after a cabinet meeting.

Spokesman Gabriel Attal told reporters that the French government could be neither “passive” nor “naive” in the context of international negotiations with its partners.

LVMH said in a statement that its board had received a letter from the French foreign ministry asking it to delay the acquisition of Tiffany to beyond Jan. 6, 2021, given the threat of additional U.S. tariffs against French products.

Reporting by Benoit Van Overstraeten; Writing by Matthieu Protard; Editing by Jan Harvey

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