UPDATE 1-Qatari royal family buys Italian fashion house Valentino
July 12, 2012 at 06:15 AM EDT
MILAN/LONDON, July 12 (Reuters) - Iconic Italian fashion house Valentino has been snapped up by the Qatari royal family for 700 million euros ($857.46 million), marking one of the most prominent purchases of a European top designer brand by an emerging market investor.