The battle over the future of two of Britain's biggest companies took a new twist yesterday with the announcement that Mr Bernard Arnault is resigning from the Guinness board.
Last week drinks giants conglomerates Guinness and Grand
Metropolitan rejected plans for their break-up from French group LVMH
of which Mr Arnault is chairman.
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The proposals are the latest salvo in a war that begun in May, when Guinness and GrandMet outlined plans for a £24 billion sterling merger.
Mr Arnault tendered his resignation from the Guinness board to concentrate on promoting his break-up plans. In a statement Mr
Arnault said he believes his proposals offer the opportunity "for significantly greater value creation to all shareholders". - (PA)
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