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GIORGIO ARMANI has sold 5 per cent of shares he owned back to Giorgio Armani SpA - total £110 million. The annual financial report for the company's 2006 figures revealed the transaction, Vogue UK reports. A spokesperson for the house explained that Giorgio Armani SpA repurchased shares from the designer to reduce some of the company's excess liquidity.

On top of the deal, Armani paid himself a dividend of approximately £63 million for the year.