August 8 - The world's biggest luxury group LVMH on Thursday said Italian market regulator Consob had approved its offer for Bulgari which valued the Italian jeweller at 3.7 billion euros ($5.27 billion).

B.zero1, Bulgari jewellery line, contains all the key elements of Bulgari style: the central spiral, a reinterpretation of Tubogas jewels, and two lateral rims with the double logo engraved.

Last month, Consob said it was examining allegations made by an unnamed fund that the French group had paid a higher price for shares owned by Bulgari family as part of a share swap than what it was ready to pay for stock owned by other shareholders.

LVMH vehemently denied the allegations saying Bulgari family owners would get the same price of 12.5 euros a share as would all other shareholders.

LVMH said the acceptance period for its offer started on Aug.22 and would end on Sept. 23.

(Reporting by Astrid Wendlandt)