The LVMH group headed by Bernard Arnault has confirmed on April 12th 2000 that it has acquired the French monthly magazine «Connaissance des Arts» after negotiations with François Pinault, owner of Christie's and of the Artemis group were broken a fortnight ago. «Connaissance des Arts», with a circulation of about 35,000 copies, was founded some fifty years ago and belonged to Mr Jodidio, who is laso known as a collector of important art pieces.
Bernard Arnault and François have been battling to take control of the international auction market during the past two years. While Pinault acquired Christie's and the auction website aucland, Arnault retaliated in taking control of the London-based auction house Phillips and the Tajan group in Paris. In addition, he invested heavily in the Internet sector with the acquisition of several auction sites. Pinault reacted in buying the PIASA auction group, the second largest in France after Tajan but might face another defiant challenge from his rival who has been lurking on Sotheby's for the past few weeks.
The alliance between Phillips and Tajan will promptly become effective on April 18th with the presentation of a Supremacist Composition of circa 1919 by Kasimir Malevich at the George V Hotel in Paris before its sale in New York next month due to be conducted by Phillips.
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